Kevin O’Leary says he has ‘no interest in being a crypto cowboy’

8 months ago 82
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  • Kevin O’Leary says consulting regulators is captious arsenic it helps debar litigation
  • He precocious said his portfolio holds astir 10% successful crypto 
  • The “Shark Tank” capitalist is looking to put up to 5% of his liquid currency successful USDC and is besides looking astatine assorted crypto assets, including Polygon, HBAR and Solana

“Shark Tank” capitalist Kevin O’Leary says helium eyes investments successful respective integer currencies, but helium goes astir his concern successful a mode not to tally afoul of regulators.

O’Leary, who precocious revealed that his crypto investments had grown to about 10% of his portfolio, told CNBC that consultation with regulatory bodies helped him sieve retired what’s not imaginable arsenic acceptable distant by marketplace authorities.

He told CNBC’s “Capital Connection” that his attack to investing successful cryptocurrency is down to not wanting to extremity up arsenic a “crypto cowboy.”

I person nary involvement successful being a crypto cowboy and getting anybody unhappy,” helium said, adding that getting into regulatory crosshairs would lone wounded his investments.

According to him, helium needs to beryllium compliant erstwhile investing successful integer currencies arsenic helium continues to bash with his galore existent satellite assets. He believes that investing successful a crypto plus lone to extremity up successful litigation with regulators is simply a “very atrocious idea.”

He added that helium is choosing compliance alternatively play guessing games lone to extremity up successful a regulatory conundrum.

USDC, Polygon and Solana

O’Leary besides talked astir his concern successful stablecoins, revealing that helium mightiness enactment up to 5% of his wealth into USD Coin (USDC). The USD-pegged plus is lone 2nd to Tether (USDT) successful presumption of marketplace capitalisation and has seen accrued concern arsenic the second grapples with regulatory issues astir its issuance.

Although helium invests successful crypto, O’Leary said his outlook of the concern people is antithetic from apt to beryllium held by others.

According to him, helium chooses a task to put successful based connected an effort to prime retired that which has the biggest imaginable to beryllium a victor “long term.”

This, helium said, has led him to look astatine assorted blockchain projects, including Solana (SOL), Polygon (MATIC) and Hedera (HBAR). He revealed that helium is looking to put successful each of the absorbing projects arsenic it’s hard to archer which 1 would spell connected to go a marketplace leader.

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