The Canadian billionaire suggested that the least volatile crypto assets are stablecoins at the moment.
"You would call stablecoins the safest right now," he noted while referring to the $GENIUS Act that created federal regulations for payment stablecoins in the United States.
"It's really digital money," O'Leary stated.
The $GENIUS Act, which was enacted in July 2025, makes it mandatory for stablecoin issuers covered by the act to hold reserves consisting of eligible liquid assets.
While stablecoins are supposed to have a relatively stable price, they are not completely risk-free. Besides, the safety of stablecoins also depends on reserve quality, the issuer, and redemption terms.
Bitcoin is a speculative asset
O'Leary classified Bitcoin as a separate category and said that the leading cryptocurrency is much more volatile compared to others.
"A little more risky and a lot more volatile is, of course, Bitcoin," he mentioned.
He underlined that Bitcoin remains a speculative asset and emphasized that institutional adoption of the top crypto is still hindered by regulatory concerns (at least for now).
The investor referred to the CLARITY Act that has not yet become law.
In September, this bill faced a significant defeat when it failed to pass in the Senate.
Turning to Ethereum (ETH) and other blockchain tokens, O'Leary compared blockchain technology to enterprise software, stressing that adoption is crucial.
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