The financial show star has invested 3 percent of her portfolio in Bitcoin and Ethereum

Canadian businessman Kevin O’Leary is known to many as the star of a financial show called Shark Tank. The day before, he said that part of his capital has already been invested in the cryptocurrency industry.

The investor does not like sharp jumps in the price of cryptocurrency, but he is getting used to the conditions of the digital asset market. But two years ago, the financier called the cryptocurrency «a complete failure» against the background of its fall after the previous stage of growth.

We checked the actual data: today the cryptocurrency market is doing well. In particular, Bitcoin and Ethereum seem to have recovered from the recent crash and entered the stage of accumulating support from investors.

In the morning, BTC is worth $ 49,866, up 2.4 percent from a day ago. At the same time, during the week, 43,382 dollars were offered for the asset.

bitcoin chart rate

Bitcoin price chart for a week

At the same time, Ethereum is priced at $ 1,575. A few days ago, the figure dropped to $ 1,314.

Ethereum price chart

Ethereum price chart for a week

Bitcoin attracts investors again

Here is a quote from O’Leary’s official Twitter account on the matter, in which he talks about the situation.

Changes in the regulatory framework and the attitude of regulators to the crypto market made me change my mind. I will also invest in mining to avoid bloody coins.

By «bloody» coins, we mean fraudulently mined cryptocurrencies. Moreover, according to experts, there is enough of this in the industry. For example, in 2020 alone, cryptocurrency hackers stole $ 3.8 billion in blockchain assets. This includes not only direct theft of cryptocurrency, but also various fraudulent schemes such as promises to double the amount sent in cryptocurrency.

Note that the latter scheme is still popular today. As we learned yesterday, an unknown person sent 5 bitcoins to scammers who were hiding behind the name of Elon Musk and his company Tesla. Most likely, one of the persuasion factors was the cryptocurrency address, which begins with «1EMusk».

bitcoin cryptocurrencies

Transfer of 5 bitcoins to scammers

Earlier in an interview on CNBC, O’Leary noted that his attitude towards crypto has softened significantly in recent years. The expert continues.

I think digital currencies are not going anywhere anymore. 3 percent of my portfolio is invested in Bitcoin and Ethereum. The volatility of coins scares me, but I’m getting used to it.

This means that the investor clearly realized that in the growing market, cryptocurrencies sooner or later return to their historical highs and exceed them. However, while Kevin has not yet got used to it.

At the same time, back in March 2019, O’Leary called Bitcoin «garbage» with low market liquidity, Decrypt reports. Here is his line at the time.

Let’s say you want to buy property in Switzerland for $ 10 million. The seller needs a guarantee that the received value will be returned in US dollars. You must somehow hedge the risk of Bitcoin price fluctuations. That is, it is not real currency. This means that the recipient is unwilling to risk the volatility they have. It’s useless.

Thus , he made it clear that sharp price movements in the BTC rate do not allow users to hope for him in important situations. That is, even with the sale of large objects, a fall in the value of an asset can create inconveniences for both parties. However, as it became clear now, Kevin’s opinion has changed.

At the same time, so far only a small part of large investors are ready to follow O’Leary’s example. According to a survey by consulting firm Gartner, only five percent of financiers would want to invest in Bitcoin in 2021. At the same time, 84 percent of respondents said that they are not ready to buy BTC even as an investment for the company, since the volatility of the cryptocurrency is too high.

In total, 16 percent of the total number of respondents said they would like to invest in crypto , but only 5 percent are ready to do it right in 2021. 9 percent said they would start crypto investments no later than 2024 . That is, right now, large players are in no hurry to headlong chasing crypto assets. So far, they are only assessing the situation and want to track the potential of the current bullish cycle of the crypto market.

Perhaps the decisive factor for their decision will be the possible success of MicroStrategy and Tesla, which have recently become the two largest BTC holders among publicly traded companies. We believe that if they manage to make billions in profits from the growth of Bitcoin, the number of people willing to join the crypto race will quickly increase.

Most likely, it is worth waiting for the next influx of investors during the next stage of market growth. Now the coins are in the accumulation stage, that is, their rate remains relatively stable after the recent fall. And when they start setting new records, the cryptocurrency industry will again become a major topic. In addition, examples of people like Kevin who completely changed their understanding of blockchain assets and joined in investments will only help this.

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