Kevin “Mr Wonderful” O’Leary Positive About 2022 & Crypto
In a new interview with Yahoo Finance, Shark Tank host Kevin O’Leary said that despite the recent volatility he is not backing away from cryptocurrencies and remains bullish.
Furthermore, he explained Bitcoin and Ethereum’s price action by looking to some of the largest tech stocks around, who have historically also had to deal with some serious headwinds.
O’Leary, sometimes referred to as Mr Wonderful, mentioned Amazon stock that also experience extreme price swings before reaching its current dominance. Notably, macro guru and Real Vision CEO Raoul Pal also recently made the same comparison when discussing Bitcoin against the e-commerce’s giant past performances.
“I have a plethora of positions. I’m going to make the decision there that this is even more volatile than technology equities, and it certainly is. Bitcoin is having one of its worst starts ever.
But you have to get used to it, just like you have to get used to Amazon where it would have these 30% to 50% corrections. Same thing with Bitcoin.”
Answering to a question of what he believes would be the hot opportunity for 2022, the investor said:
“The one that I really found interesting over the last 24 months has been crypto and blockchain technologies and tokens and NFTs.
You have to make a binary decision about this stuff, and this is very difficult for many institutions… and many of them have not even started their journey into cryptocurrencies…
This is how I wrap my head around it and I think it would help investors to think this way. If you invest in Microsoft and Google and Amazon and so many of these other platforms, what is the core you’re investing in?
Google is software. Bitcoin is not a coin. It’s actually software. The blockchain is software…
So the real decision is if you’re willing to invest in software because it’s a productivity tool as an equity, such as Google, why wouldn’t you invest in software such as Ethereum? Because it provides a service… that is being used globally.”
Nevertheless, it can be hard to decide these days what projects to invest in and what opportunities to take. O’Leary said the following:
“The question is which coins, which tokens, which blockchains? And for that I apply the same rules of diversification I apply to my stocks and bonds.
No more than 5% in any one position. No more than 20% in the whole sector.
I’m not anywhere near 20% in crypto. I’ve just gone over 10.7% in our operating company.”
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Source: igaming
