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Shark Tank’s Kevin O’Leary revealed that cryptos, such as Bitcoin (BTC), Ether (ETH), and USD coin now account for around 10 percent of his portfolio. He also believes that crypto should be a part of every investor’s portfolio.
“It’s a wonderful universe,” O’Leary said, according to Bitcoin.com. “It’s a fantastic asset. It’s a must-own if you’re an investor.”
He also offered some advice for people who are just getting into the crypto space or those that are just plain curious. “I really advise them to explore this asset and the way to do it is to start small, start to understand the platforms,” O’Leary said. “Are you going to buy it through a centralized wallet? Are you going to decentralize? Try all the options, learn by experience.”
“The thing about bitcoin is you need to learn how to work with it,” he added. “There are many different ways to approach it. There are many different ways to own it.”
Indeed, with the recent approval of a Bitcoin futures ETF in the U.S., investors can opt to gain exposure on the asset via this investment vehicle. Some investors also prefer to invest in firms that own substantial holdings of the crypto such as MicroStrategy and Tesla.
O’Leary noted that investors of all ages are starting to explore digital currencies. “Gen Z and millennials, and now baby boomers, are all learning,” he said. “They make mistakes. I know people have lost their coins, but they did it on a small basis. And they don’t make that mistake again. They create awareness of how to do it.”
The Shark Tank star started 2021 with around 3 percent of his portfolio in cryptocurrencies. However, the crypto market’s rally has increased the percentage of his holdings in terms of value.
“I’ve grown the portfolio remarkably,” O’Leary revealed. “At the beginning of the year, I was at 3% weighting. The target was to get 7% by year-end. However, because of the appreciation of so many of the assets I have now, we’re almost at 10% today.”
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