Kevin O’Leary discusses why he has more cryptocurrencies in his portfolio than gold. It’s worth mentioning, though, that this is the first time this has ever happened.
During an interview with Daniella Cambone on Stansberry Research, the well-known investor also stated that he will not sell all of his gold. However, from his point of view, the crypto sector is a significant deal, even if it isn’t simply about price speculations.
He goes on to say that there are many additional reasons to invest in crypto than simply speculating on the price. He continues by mentioning Solana and the Ethereum blockchain.
“I have 5% in gold so crypto for the first time is more than gold for me, and I’m going to keep my gold. I see no reason to sell it But in crypto, it’s not just betting on the price of Bitcoin (BTC) anymore. There are so many other ways to invest particularly in blockchain opportunities [such as] Solana and Ethereum. There are so many different level ones, and of course, the level twos, the derivatives that are put on top of Ethereum and Solana, and all the others. I just see a lot of investment opportunity, and I’m going to be an investor in that space.”
Furthermore, O’Leary admits that his crypto holdings now account for 7 percent of his overall portfolio. Notably, he places a heavy emphasis on diversifying his portfolio by investing in both gold and bitcoin. It’s worth noting that having exposure to both assets is a smart idea. Instead of having to choose between one option and another, as the media suggests.
“Nothing is going to replace gold [It] will remain an asset class in portfolios like mine and others as property. You can’t stake gold. You can’t lend gold. At the same time, with crypto. You have the opportunity to stake it or lend it and get some kind of appreciation of value through interest. So I think they’re two different asset classes… It’s fun to see the press create this controversy between gold and Bitcoin. It’s irrelevant. They’re completely different. From my perspective, having exposure to both is a good idea.”
If you find this article informative then do share it with your friends and family!