Celebrity investor Kevin O’Leary (aka “Mr. Wonderful” on ABC TV’s “Shark Tank”) recently revealed that cryptoassets outweigh gold in his investment portfolio.
In an interview, O’Leary stated that for the first time, he has more exposure to cryptocurrency than gold. He added that he had no plans to sell his gold, but predicted that digital assets would continue to provide investment opportunities.
I have 5% in gold, so crypto is now worth more to me than gold for the first time, and I intend to keep my gold. I don’t see why it should be sold. But in crypto, it’s no longer just about betting on the price of Bitcoin (BTC). There are numerous other avenues for investment, particularly in blockchain opportunities like Solana and Ethereum.
O’Leary stated that, aside from price speculation, he saw a lot of “investment opportunity” in the crypto space and stated that he would remain an active investor in the space. According to reports, 7 percent of the Shark Tank star’s portfolio is currently invested in cryptocurrency.
O’Leary commented on the relationship between gold and its digital counterpart Bitcoin, claiming that the media was largely to blame for the skepticism.
The legendary investor advised having exposure to both assets, calling it a “good idea” to invest in both gold and cryptocurrency:
Nothing will ever be able to replace gold… As a property, it will continue to be an asset class in portfolios like mine and others. Gold cannot be staked. You cannot lend gold… At the same time, with cryptocurrency, you have the option of staking it or lending it and gaining some kind of value appreciation through interest.
Gold and cryptocurrency, according to O’Leary, are “two different asset classes,” and the debate between the two is “fun but ultimately irrelevant.”