Canadian author, businessman, television personality and politician Kevin O’Leary recently changed his mind about cryptocurrency and its practical use. According to an interview conducted by CNBC anchor Hadley Gamble in Abu Dhabi, Kevin had stated that the recent improvements in regulatory climate had encouraged him to change his mind regarding cryptocurrency.
Digital currencies are here to stay, says Kevin
In the aforementioned interview, Kevin went on to claim he truly believed that cryptocurrency is here to stay. He further elaborated that most people are very likely to hold onto these digital assets, and more importantly, they are willing to deal with the extremely volatile nature of cryptocurrency itself in order to do so. It is true as even tech giants such as Elon Musk have expressed interest in cryptocurrency and digital trading, giving more weightage to Kevin’s argument.
One of the main reasons as to why Kevin was initially hesitant to join in on the cryptocurrency craze earlier could be attributed to, once again, its volatile nature. In fact, he had even gone as far as to say that this volatility actually sickened him; however, he nevertheless currently holds a 3% weighting investment between Bitcoin and Ethereum. He has also expressed interest in investing in the mining infrastructure of Bitcoin in the near future.
Pompliano finds O’Leary’s sudden interest hilarious
Current partner and co-founder of Morgan Creek Digital Assets, Anthony Pompliano, had also recently offered his opinion on Kevin’s sudden about-turn on cryptocurrency, going as far as calling this sudden change in stance ‘quite amusing and funny’. Anthony went on to further state that Kevin’s current interest of only willing to invest 5% will eventually turn to 50% given the attractive nature of cryptocurrency.
Kevin, in his defence, had stated that he was not the only one who had suddenly changed his mind, as a number of other regulators had also done the exact same thing regarding Bitcoin. He went on to state that the world of cryptocurrency is a game-changer for numerous investors, himself included.
Whether or not Kevin will change his mind again in the future remains to be seen, as he had also gone on record in 2019 to claim that Bitcoin is “worthless garbage and a downright useless currency”, once again citing the volatile nature as his main reason for saying as such.
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