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Shark Tank star, billionaire investor Kevin O’Leary plans build up his conviction in cryptocurrencies.
Notably, during interview with Anthony Pompliano on The Best Business Show, Shark Tank Star notes potential opportunities in the growing cryptocurrency space.
Then, goes on to call it the “twelfth sector of the S&P.”
Furthermore, Shark Tank Star reveals plans to operate his company to allocate 20% of its capital towards crypto.
Of course, this will be a huge spike from the current allocation of 7%.
So, Shark Tank Star explains further.
“This is going to be a 20% weighting in our operating company…”
“Call it the twelfth sector of the S&P, that’s what this is. And in my world, in my compliant world,…”
“I can own up to 20% of this sector and be compliant, and that’s where I’m going.”
Recall, early October, Shark Tank star notes that his recent investment into crypto increases his total holdings from 3% to 7%.
More so, this is the first time he’s holding more in crypto than his 5% allocation in gold.
Additionally, Shark Tank Star explains he has interest on different sectors in crypto space. Then, goes on to mention taking a stake in the USDC stablecoin provider Circle.
“If you’re going to get involved in Bitcoin [BTC], that is simply one asset…”
“And I am very diversified now into miners, their equities, some of the coins they own…”
“Why wouldn’t I want a piece of Circle if I’m going to be using USDC?”
More so, Shark Tank Star explains.
“I have a completely different view of the world. I see the efficiency, the productivity potential,…”
“and for me, if I look at the time I spent today at our 10 o’clock deal meeting,…”
“40% of that hour was just looking at the crypto deals that we’re being shown…”
“It’s almost half of what we look at now.”
Then, Shark Tank Star concludes.
Photo credit – CNBC