Kevin O’Leary, a Shark Tank investor, says he won’t sell any Crypto despite the Downturn – ‘You just have any stomach for it.’
Kevin O’Leary is reported to hold 32 positions in the digital asset space. Speaking on the current Bitcoin & Crypto market downturn, O’Leary stated that he is not selling anything and that you have got to hold on and get used to the volatility.
5/ “I’m not selling anything,” @kevinolearytv said. “Long term you just have to stomach it. You have to understand you’ll get volatility, and that some projects aren’t going to work.” (@MktsInsider)https://t.co/GrnTZtzh0n
— Phil Rosen (@philrosenn) June 18, 2022
He also stated that he believes that the collapse of large and overlarge Crypto companies could be beneficial for the industry as a whole.
2/ In an exclusive interview, Kevin O’Leary broke down how he’s approaching the crypto bear market, and why he is sweating the downturn. (@MktsInsider)https://t.co/GrnTZtzh0n
— Phil Rosen (@philrosenn) June 18, 2022
O’Leary noted that recent crypto collapses, such as that of stablecoin Terra and sister token Luna, are events that teach investors to caution and can actually help further the technology underpinning digital assets.
“Luna raised 30-plus billion [dollars],” he said. “No one’s going to use their idea again. [The collapse] educated everybody that this isn’t the way to build a stablecoin. It’s important for the education and the maturation of the market.” (1)
