Kevin O’Leary Says He’s Doubled Down on Crypto Amid Downturn, Naming Bitcoin, Ethereum and Three Altcoins

0 3

Shark Tank star Kevin O’Leary is revealing that he took advantage of the market downturn to add to his crypto holdings.

In a new interview with Stansberry Research, O’Leary says that his crypto portfolio suffered a double-digit drawdown, but he took that as an opportunity to buy the dip.

“We took a hit. We were at 20% [of the portfolio] and then it grew up to 23%. Then it went down to 16% of the portfolio. It was really volatile. But I have always said you’re going to get this volatility in an industry that’s not regulated because there’s no institutional bid.

So probably at the low, we were at 15%. We lost 40% of the value and now we’ve come back up on some projects. And they haven’t all come back at the same pace.

The big players, the big market cap names like Bitcoin (BTC), like Ethereum (ETH), like Solana (SOL), like Polygon (MATIC), and Hedera (HBAR), in some cases we doubled down. We took advantage of the extreme volatility and the large-cap names like ETH, like Bitcoin. Why not add to the position if you are going to stay long?”

According to the venture capitalist, the “real problem” facing crypto assets currently is the lack of institutional participation.

“This asset class is not correlated with anything as people thought. It’s not correlated with inflation yet.

But the real problem… it’s really a gauge on where the institutional buyer is. And right now, zero. They have no Bitcoin.

Anybody that tells you the institutions of sovereigns own it, is full of poo poo.”

I

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox



Check Price Action



Follow us on Twitter, Facebook and Telegram



Surf The Daily Hodl Mix


Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/justdd

Generated Image: DALLE

The post Kevin O’Leary Says He’s Doubled Down on Crypto Amid Downturn, Naming Bitcoin, Ethereum and Three Altcoins appeared first on The Daily Hodl.

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 24,535.57
ethereum
Ethereum (ETH) $ 1,990.50
tether
Tether (USDT) $ 1.00
usd-coin
USD Coin (USDC) $ 1.00
bnb
BNB (BNB) $ 326.50
cardano
Cardano (ADA) $ 0.564855
xrp
XRP (XRP) $ 0.380502
binance-usd
Binance USD (BUSD) $ 1.00
solana
Solana (SOL) $ 46.97
polkadot
Polkadot (DOT) $ 9.40
dogecoin
Dogecoin (DOGE) $ 0.073869
avalanche-2
Avalanche (AVAX) $ 29.36
staked-ether
Lido Staked Ether (STETH) $ 1,940.49
matic-network
Polygon (MATIC) $ 1.01
shiba-inu
Shiba Inu (SHIB) $ 0.000013
dai
Dai (DAI) $ 1.00
tron
TRON (TRX) $ 0.070327
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 24,526.57
ethereum-classic
Ethereum Classic (ETC) $ 44.18
okb
OKB (OKB) $ 22.49
leo-token
LEO Token (LEO) $ 4.89
litecoin
Litecoin (LTC) $ 64.09
near
NEAR Protocol (NEAR) $ 5.93
chainlink
Chainlink (LINK) $ 9.19
ftx-token
FTX (FTT) $ 31.49
uniswap
Uniswap (UNI) $ 9.06
crypto-com-chain
Cronos (CRO) $ 0.154928
cosmos
Cosmos Hub (ATOM) $ 11.97
stellar
Stellar (XLM) $ 0.127256
flow
Flow (FLOW) $ 2.97
monero
Monero (XMR) $ 167.22
bitcoin-cash
Bitcoin Cash (BCH) $ 144.22
algorand
Algorand (ALGO) $ 0.372519
vechain
VeChain (VET) $ 0.033047
filecoin
Filecoin (FIL) $ 8.42
apecoin
ApeCoin (APE) $ 6.85
internet-computer
Internet Computer (ICP) $ 8.23
decentraland
Decentraland (MANA) $ 1.08
chain-2
Chain (XCN) $ 0.087295
hedera-hashgraph
Hedera (HBAR) $ 0.081994
the-sandbox
The Sandbox (SAND) $ 1.34
axie-infinity
Axie Infinity (AXS) $ 19.61
tezos
Tezos (XTZ) $ 1.92
quant-network
Quant (QNT) $ 127.24
lido-dao
Lido DAO (LDO) $ 2.93
theta-token
Theta Network (THETA) $ 1.60
celsius-degree-token
Celsius Network (CEL) $ 3.72
aave
Aave (AAVE) $ 111.02
elrond-erd-2
Elrond (EGLD) $ 65.47
frax
Frax (FRAX) $ 1.00
eos
EOS (EOS) $ 1.35
true-usd
TrueUSD (TUSD) $ 1.00
bitcoin-sv
Bitcoin SV (BSV) $ 63.97
helium
Helium (HNT) $ 8.60
the-graph
The Graph (GRT) $ 0.144576
kucoin-shares
KuCoin (KCS) $ 10.75
fantom
Fantom (FTM) $ 0.402974
compound-usd-coin
cUSDC (CUSDC) $ 0.022681
iota
IOTA (MIOTA) $ 0.361441
compound-ether
cETH (CETH) $ 40.01
zcash
Zcash (ZEC) $ 76.17
maker
Maker (MKR) $ 1,073.68
huobi-btc
Huobi BTC (HBTC) $ 24,625.60
bittorrent
BitTorrent (BTT) $ 0.000001
havven
Synthetix Network (SNX) $ 4.03
ecash
eCash (XEC) $ 0.000048
klay-token
Klaytn (KLAY) $ 0.306212
thorchain
THORChain (RUNE) $ 2.92
chiliz
Chiliz (CHZ) $ 0.162111
paxos-standard
Pax Dollar (USDP) $ 1.00
neo
NEO (NEO) $ 12.06
cdai
cDAI (CDAI) $ 0.022062
huobi-token
Huobi (HT) $ 5.30
usdd
USDD (USDD) $ 0.998822
gatechain-token
Gate (GT) $ 5.13
bitdao
BitDAO (BIT) $ 0.669952
arweave
Arweave (AR) $ 14.65
pancakeswap-token
PancakeSwap (CAKE) $ 4.45
zilliqa
Zilliqa (ZIL) $ 0.047601
neutrino
Neutrino USD (USDN) $ 0.993275
basic-attention-token
Basic Attention (BAT) $ 0.460766
blockstack
Stacks (STX) $ 0.519164
enjincoin
Enjin Coin (ENJ) $ 0.708212
radix
Radix (XRD) $ 0.064422
amp-token
Amp (AMP) $ 0.008350
dash
Dash (DASH) $ 57.50
waves
Waves (WAVES) $ 6.17
pax-gold
PAX Gold (PAXG) $ 1,797.27
loopring
Loopring (LRC) $ 0.482288
stepn
STEPN (GMT) $ 0.978268
tenset
Tenset (10SET) $ 3.03
nexo
NEXO (NEXO) $ 1.02
kava
Kava (KAVA) $ 2.29
bitcoin-gold
Bitcoin Gold (BTG) $ 32.31
curve-dao-token
Curve DAO (CRV) $ 1.43
kusama
Kusama (KSM) $ 61.16
mina-protocol
Mina Protocol (MINA) $ 0.925445
defichain
DeFiChain (DFI) $ 0.953264
celo
Celo (CELO) $ 1.16
osmosis
Osmosis (OSMO) $ 1.21