Kevin O’Leary Says His Cryptocurrency Holdings Could Access 20% Of The Portfolio – BollyInside

Shark Tank celebrity Kevin OLeary, also called Mr. Wonderful, says he would be prepared to expand his crypto allocations up to 20% when there are more clear regulations around stablecoins. OLeary, a previous Bitcoin (BTC) skeptic, is presently a vocal supporter of digital money, which as of now makes up more than 10% of his investment portfolio. A reasonable regulatory structure would permit OLeary to change over huge money positions into stablecoins. Presently, in any case, you cant put over 5% in stablecoins because of regulatory restrictions.

My own compliance department views stablecoins as capital no different from a stock, he said.

Mr. Wonderful is particularly focused on stablecoins pegged to the US dollar, which he believes are an effective hedge against rising inflation rates. By betting stablecoins you can get a profitability of up to 6%. He told Cointelegraph: With an inflation rate of 6%, your purchasing power will be 6% lower in 12 months. And all of that is a lot Im a big believer in solving this problem with stablecoin.

According to OLeary, his enthusiasm for stablecoins is shared by many institutional investors who work quietly in the background waiting for regulators to move on.

You wont get 20, 30% in Bitcoin in an institutional or government mandate, just not. Stablecoins have that potential, he explained.

In addition to stablecoins, Mr. Wonderful also invests in Bitcoin, Ether (ETH) and other cryptocurrencies. However, due to their underlying volatility, these cryptocurrencies are unlikely to make up a large part of an institutional investors portfolio, he said.

News Summary:

Read this article:
Kevin O'Leary Says His Cryptocurrency Holdings Could Access 20% Of The Portfolio - BollyInside