Shark Tank investors say he diversified his portfolio by investing small chunks of BTC and ETH despite the inability of the primary cryptocurrency to hold above the $1 trillion market cap for a long time. However, Kevin O’Leary decided to allocate 3% of his funds into these two cryptocurrencies as we can see in our latest Bitcoin news.
Shark Tank investor Kevin O’Leary invested in the top two cryptocurrencies by market cap despite their strong volatility compared to the traditional asset counterparts. The volatility kept Shark Tank investor Kevin O’Leary from making a strong bid on the asset class for years aside from the small purchase that he made back in 2017. Over the past few years, “Mr. Wonderfull” appeared on CNBC and blasted the asset classes as garbage but he seems to have changed his mind as he invested in both BTC and ETH with 3% of his portfolio as per the latest announcement.
Over the past few years, the investor dubbed as “Mr. Wonderful” is still a mainstay on the ABC Shark Tank alongside other wealthy entrepreneurs and investors like Robert Herjavec, Mark Cuban, and Lori Grenier. Cuban dabbled into NFTs recently and in the recent months especially.
Mark Cuban on the other hand, also a Shark Tank investor, claims that the blockchain is the new internet while being a huge fan of DeFi and smart contracts. He doesn’t believe that crypto will ever be accepted as currencies though. In a podcast, the Shark Tank star and Dallas Mavericks owner sat down with the Defiant to comment why he is bullish on crypto and DeFi and why he remains skeptical about BTC as a currency. He remained adamant that BTC is not a currency as much as it is a store of value.
Cuban returned to an analogy comparing blockchain’s rise to one of the internets in that there were initial and early adopter applications before the entire thing became ubiquitous. Cuban thinks that smart contracts are extremely important since crypto blew up and it became a major threat to the banking system which is why he believes ETH has an advantage over BTC for regular people. His love for Defi goes hand in hand with his love for ETH because DeFi services have built an entire infrastructure on top of the blockchain by using smart contracts.
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