Shark tank celebrity says his crypto holdings surpass his gold holdings

Everyone’s favorite, Shark Tank star Kevin O’Leary, during a live recording with Reddit on November 11, said that cryptocurrencies now comprise 10% of his investment portfolio. 

He explained to the Reddit audience that he had only 3% of space for crypto during the start of 2021, and he was targeting to make it 7%. As most of the assets he owns are appreciated, he shifted his focus toward crypto. He also signaled the growth of Solana and its potential to beat other cryptocurrencies, including Ethereum, as he stated:

“Some people think the game is over, and Ethereum is it, but I don’t agree. There are many other alternatives, whether it be Solana or anything else.”

He advised the investors to have a diversified portfolio as he thinks “diversification is the key” to a successful investment.

How Shark Tank star started liking crypto

In August, Shark Tank star became crypto exchange giant FTX’s spokesperson and embraced crypto publicly. He recently said that Ethereum would soon become a deflationary asset. But O’Leary used to be a crypto skeptic and, two years back, during an interview with CNBC, called Bitcoin “garbage.” He, during the talk, pointed out how his outlook on crypto shifted. 

He said that he bought his first BTC In 2017 when there was no regulatory involvement in the digital asset world. He said he has now invested in many financial service-providing companies, and he uses their services which are complied with the regulator. He further stated:

“My own compliance department pressured me to back off cryptocurrencies because they were concerned that we’d end up being a lightning rod.”

Last month, his holdings surpassed his gold holdings. Interestingly, as TheCoinRise reported, JPMorgan recently said that investors are shifting from gold to Bitcoin due to inflation which suits O’Leary’s portfolio situation.

Shark Tank is a show that brings aspiring entrepreneurs all around the globe to pitch their business models to a highly experienced panel of investors. The concept is fresh and innovative as many times; investors invest their money in these businesses.