Kevin O’Leary, Shark Tank: “I don’t sell , I’m in for the long haul”

In a recent interview conducted by CryptoPotato , Kevin O’Leary of the famous American program Shark Tank spoke positively about Bitcoin and in fact O’Leary recently also stated that he has invested 3% of his assets in BTC .

The 60-year-old millionaire also explained that despite Bitcoin’s recent declines, he has no intention of selling his BTCs.

“I don’t care if it goes down by $ 20,000 or goes up by $ 20,000. I don’t sell it. A bitcoin is a bitcoin. I’m in for the long term ”.

In addition to investing in Bitcoin, O’Leary also explained that he has invested in several decentralized finance (DeFi) projects, although it is not known which ones. What he explained instead is that he has staked his Bitcoins in these dApps.

Bitcoin vs Ethereum according to the Shark Tank host

For the Shark Tank host, Bitcoin is irreplaceable and that’s why he invested in it and believes in it so strongly:

“Institutions are interested in Bitcoin as well. It is the gold standard of digital currencies. It is possible to debate why it is. There is simply nothing else that can replace it. Ethereum may not be as sustainable as people think, because there are other chains that may be more efficient in terms of transaction speed than Ethereum. So, I think there are a lot of risks ”.

Elon Musk and mining

As for Elon Musk and his market manipulations, O’Leary then gave his opinion:

“ESG is not going away. Elon received pressure. I think he was prompted by his Tesla shareholders to talk about this because they live with sustainability committees and are not on the side of bitcoin being used as a currency to buy Tesla cars. And so they probably prompted him to make the statement he made. I don’t really care who tweets what. I made a binary decision to own bitcoin. Now I have to decide which allocation and for now I have decided on 3%. What happens next? I do not care. And if it’s volatile due to Elon Musk’s tweets or someone else’s, so be it ”.

Another interesting topic touched upon by this interview was the topic of Bitcoin ETFs in the United States, where the SEC is still deciding whether to approve them or not.

“I think it will take some time, maybe another couple of years for regulators to allow ETFs here. There are a lot of concerns: Sustainability is one of them, as is fungibility around criminal and nefarious activities. That is, Bitcoin is blamed, but US dollars are also used for nefarious activities. So the idea that it’s just Bitcoin doesn’t really make sense. Bitcoin has also gotten a bad reputation lately due to the huge spread of hackers, as hackers demand to be paid in cryptocurrencies. Some people assume it’s Bitcoin, they’re out there chasing it ”.