American entrepreneur and star of the popular show about business and finance “Shark Tank” Kevin O’Leary said that he is ready to increase the share of cryptocurrencies in his investment portfolio.
Previously, Kevin O’Leary was a cryptocurrency skeptic, but he has been investing in digital assets for several years now, becoming an ardent supporter of such investments. Cryptocurrencies now account for about 10% of his investment portfolio. O’Leary is ready to increase the share of digital assets to 20%, but for this he expects clearer regulation of the industry.
O’Leary also said that stablecoins, pegged to the US dollar, occupy a significant share in his investment portfolio. So he tries to protect himself from inflation of the world reserve currency – he uses stablecoins for staking.
“When inflation reaches 6% per annum, then your purchasing power decreases by 6% per year. And I urge to solve this problem with the help of stablecoins, ”said the investor.
Clearer and more transparent regulation will allow O’Leary to move funds from fiat currencies to stablecoins. Now he is not ready to increase the share of stablecoins in his portfolio above 5% according to the recommendations of the compliance department. According to the entrepreneur, his optimism towards stablecoins is shared by many institutional investors. At the same time, O’Leary has a different attitude to bitcoin and other cryptocurrencies due to the significant volatility of assets:
“You won’t invest 20% or 30% of your portfolio in bitcoin if you are an institutional investor, you just won’t. And stablecoins may well receive such an allocation. ”
Earlier, O’Leary said that he values cryptocurrencies depending on the blockchain on which they operate.
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