Billionaire Investor Kevin O’Leary Claims Only Two Cryptocurrencies Are “Worth Owning”

Renowned investor Kevin O’Leary has made noteworthy new assessments regarding the cryptocurrency market. After experimenting with various digital assets for a long time, O’Leary argued that he has narrowed his investment strategy and now only two cryptocurrencies deserve a place in portfolios.

In an interview with Stuart Varney on the Varney & Co. program, the President of O’Leary Ventures stated that many tokens have lost their value proposition as institutional investors’ influence in the market increases. O’Leary, who previously invested in dozens of different altcoins, said he restructured his portfolio, particularly in the last year, due to changing regulatory expectations and institutional analysis.

The experienced investor, who has held positions in 27 different crypto assets in the past, argued that this approach is unsustainable, stating, “Now all you need to own is Bitcoin and Ethereum. These two assets account for 97 percent of the volatility of all other ‘junk’ coins in the market.”

O’Leary also noted that thousands of small-scale crypto projects disappeared following the market downturn last October. He stated that this reinforced his decision to exit these assets, saying, “Thousands of projects collapsed and didn’t come back. So why not focus only on these two strong assets?”

*This is not investment advice.