Many famous investors bashed cryptocurrencies back in 2017, when prices went up fast and formed a bubble. Once bad news started to unravel, newbie analysts started to throw basic allegations about cryptocurrencies. Today marks a new era for cryptocurrencies. Many previous bashers seem to embrace this technology, seeing how it performed in the past year to date. Kevin O’ Leary previously bashed Bitcoin, and he happens to not only change his stance, but include cryptos in his investing portfolio.
Kevin O’ Leary previously bashed Bitcoin
When cryptocurrencies boomed back in 2017, Kevin O’ Leary was among many others to jump on the “bash train”. He specifically said that cryptocurrencies are “garbage”. He didn’t see any real value in owning a “virtual currency”, especially that nothing is backing it up except for supply and demand.
Kevin today owns Bitcoin and other Cryptos
In a recent interview with CNBC, Kevin O’ Leary stated that cryptocurrencies fascinate him. He currently have around 3% of his total investing portfolio in Bitcoins and Ethereum. He also stated that crypto volatility worries him, but he’s trying to cope with the shooting price-action. Another worry would be countries restrictions, where governments and regulators might squeeze this tech out, making investors rush out by selling off.
This investor giant was also interested to invest in cryptocurrency infrastructure, such as mining, blockchain and other FinTech companies that deal with cryptos. Let’s hope other previous basher hop on the crypto train, maybe Warren Buffet next?
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Rudy Fares
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