Shark Tank star has dozens of crypto positions

Shark Tank star Kevin O’Leary may have invested in dozens of crypto projects, but he says he only needs two of them to work out. In a new interview with Blockworks, O’Leary says that he views cryptos like Bitcoin (BTC), Ethereum (ETH), Polygon (MATIC), Hedera (HBAR), Helium (HNT), and Avalanche (AVAX) as software rather than tokens. He says the only way projects survive over the long term is if they bring some kind of economic value to the table.

Kevin O’Leary devotes 20% of his wealth to crypto

Give him Polygon, aggregate transactions, and push them through Ethereum in one transaction, cut gas fees by a huge amount, which works in India. Why wouldn’t he invest in that, as that is a great idea? There’s real economic value there.

Same with Helium, if it’s going to change telecommunications. He likes that idea. Solana is going to speed up the blockchain. Solana CEO Sam Bankman-Fried says why not put a 5% allocation into that. Kevin doesn’t know who will win, and he got 32 positions. He only needs two of them to work, and he would have made a shitload of money.

O’Leary compares the current crypto market to the early days of the internet in the 1990s. Some of these will be Pets.com, but others will bring tremendous value and be the Googles and the Microsofts of their generation.

O’Leary also notes that he’s devoted 20% of his capital to crypto.

Kevin is truly bullish

Kevin made the assumption, and he could be wrong, but in the next 10-12 years, crypto will be the 12th sector of the S&P. There’s 11 sectors. If we look at how a sovereign fund or pension plan manages capital, let’s say they have $100 billion, that’s the world they work in. They allocate up to 10% in any one sector and up to 5% in any one name.

If we’re really bullish, like the shark tank star, we put 20% of the operating company’s capital into crypto and no more than 5% into any one coin, token, blockchain, or level two, whatever we want to call it. And that’s what Kevin has done. The shark has got 32 positions, 20% of the capital tied up. It’s volatile as hell, but Kevin is okay with it because he assumes that all of this proposed policy will be adopted at some point.