Shark Tank star and millionaire investor Kevin O’Leary says he could significantly expand the size of his Bitcoin and crypto portfolio.
In an interview with Bitcoin bull Anthony Pompliano, O’Leary says that regulators across the globe are starting to warm up to cryptocurrencies and that’s giving him a reason to put more capital into the emerging asset class.
“Recently, after the regulators in Switzerland, France, Germany, Australia, England, Japan [and] Canada all started to change their stance on crypto, it allowed me to start to allocate to it in a compliant way. And that’s really what got me going. Obviously, this is an asset class that’s here to stay. It’s still going through a very nascent phase. I’ll be putting a lot more into it as time changes.”
The Shark Tank veteran says that he’s looking to expand his crypto portfolio beyond Bitcoin and Ethereum.
“I’ve disclosed that by the end of the year I’ll probably be at 7%. That’s the target. Because I’ve gone beyond Ethereum and Bitcoin. I have a pretty big position in USDC (USD Coin) right now. I’m moving into some other assets that I’m negotiating right now.”
According to O’Leary, he’s open to increasing his allocation to crypto-assets to 20% if the portfolio meets his investment targets.
“Performance – I mean that’s [it] basically. I’m not a cowboy here. I’m actually allocating capital towards achieving a distributable return of between 6% and 8% a year. We have a lot of volatility in Bitcoin. Right now, we’re 61% back from the lows and that’s great.”
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