TV Star Kevin O’Leary Has Bitcoin and Solana Investments
Kevin O’Leary, an investor and star of the Shark Tank TV show, has said in an interview with Business Insider that in the next decade, the cryptocurrency industry will become the twelfth sector of the S&P 500 index.
Currently, the S&P 500 benchmark includes 11 sectors of the economy, so most experts advise investing no more than 20% of the index portfolio in each.
According to O’Leary, he follows this strategy when investing in cryptocurrencies. The millionaire has said that he holds 32 positions in the digital asset sector, including Bitcoin, Solana and a stake in Polygon technology. None of them takes more than 5% of the 20%, he has noted:
“Bitcoin is not a coin, but software. If you believe that the software has long-term economic value, you can invest 5% in it as part of your investment mandate. My major positions are projects that, in my opinion, look like a great economic proposal.”
O’Leary has emphasized that investment diversification is one of the fundamental principles, because “you have no idea what might work.” In his opinion, even two successful bets out of ten positions can recoup unprofitable investments.