An American entrepreneur, crypto investor, star of the show Shark Tank announced that, despite the drawdown of the investment portfolio, he acquired cryptocurrencies with a large market capitalization.
Kevin O’Leary, in an interview with Stansberry Research, said that he took advantage of the downturn in the digital asset market to increase his investments in cryptocurrencies.
“I took a hit. I had a 20% portfolio of cryptocurrencies, and then it grew to 23%. The portfolio then declined to 16%. The market was really unstable. But I have always said that you will face volatility in an industry that is not regulated,” O’Leary recalled.
The businessman added that his investment crypto portfolio during the bearish trend decreased as much as possible to 15%. As a result, 40% of the portfolio value was lost. Now everything has stabilized, the investor is again investing in cryptocurrency projects. At the same time, O’Leary believes that not all assets have returned to stable growth:
“Large market cap cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Polygon (MATIC) have shown growth in some cases. I took advantage of the extreme volatility and invested in large market cap cryptocurrencies like Ethereum and Bitcoin. Why not increase the position if you are going to stay in the market for a long time?
According to the venture capitalist, the “real problem” that crypto assets are currently facing is the lack of involvement of large institutional investors:
“This asset class is not related to inflation, as investors thought. But the real problem has shown the level of interest of institutional buyers in cryptocurrency, and now the big players do not have bitcoins and altcoins.”
Earlier, the President of El Salvador Nayib Bukele (Nayib Bukele) continued to buy bitcoins despite the fall of the cryptocurrency market. In July, the country’s government spent about $1.5 million to purchase 80 BTC at an average price of $19,000.
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