Popular millionaire investor Kevin O’Leary may have revealed how much crypto he holds in his possession. Speaking in an interview with CNBC on Friday, O’Leary confirms that at least 20% of his investment holdings are in the cryptocurrency industry. He said:
I have millions of dollars, 20% of my portfolio is now in cryptocurrencies and blockchain.
But he also explained that his investments are diversified within the digital assets themselves and some companies in the industry. With investments in Ethereum (ETH), Solana (SOL), Avalanche (AVAX), Helium, and other companies, O’Leary explains the reason for his wide range of investments. He said:
You have to be diversified, I own 32 different positions including equity in FTX. The whole point is you don’t know who’s going to win. I own them all.
Kevin O’Leary on Biden’s Executive Order And More
Meanwhile, after revealing his crypto investment portfolio, the celebrity investor also shared his views on Biden’s executive order on crypto. According to him, President Joe Biden’s executive order on crypto comes with vague details.
Additionally, he expressed concerns about the part where Biden’s directive particularly stressed on climate risks associated with cryptocurrency. But O’Leary’s fear in that regards may be understandable as he recently invested in a private bitcoin mining facility. Nevertheless, he says he has now sold his positions in publicly traded bitcoin mining firms, right after the executive order got released on Wednesday.
“The future of public Bitcoin companies is uncertain. After reading POTUS Crypto executive order, I sold all my RIOT, MARA, HIVE, & HUT because they use Carbon credits. This won’t survive audit. Institutional capital will only invest in 100% hydro powered miners!”
The U.S. Taking A Slow Approach To Its Crypto Policy
In conclusion, O’Leary also warned that the U.S. is far behind the rest of the world in terms of drawing up a crypto policy. And citing the likes of Canada and Switzerland, he says the U.S. needs to start playing catch up. He said:
“The Canadians are more advanced. They have the very first crypto exchange, the first ETF with bitcoin in it. How come we don’t?”
Read more:
Joe Biden Executive Order; Good News for Investors
Canada’s New ‘Emergencies Act’ to Include Crypto and Crowdfunding
Bank of Israel Publishes Draft Regulations On Crypto Transactions
