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Shark Tank star Kevin O’Leary, also known as Mr. Wonderful, is ready to put 5% of his investment portfolio in a bitcoin exchange-traded fund (ETF) that is approved by the U.S. Securities and Exchange Commission (SEC). Long known as a bitcoin skeptic, O’Leary is worried about bitcoin’s volatility and wants regulators to be comfortable with it before he jumps in.

Kevin O’Leary Wants to Invest in Bitcoin ETF

Canadian investor and television personality Kevin O’Leary discussed his view on bitcoin last week in a podcast hosted by Morgan Creek Digital partner Anthony Pompliano.

O’Leary has been a bitcoin skeptic. He told CNBC in May last year that bitcoin was “worthless†and “a useless currency,†stating that to him, “it’s garbage because you can’t get in and out of it in large amounts.â€

While he still has the same concerns, the Shark Tank star said that he is not against bitcoin. “I do own a small amount of bitcoin,†he said, adding that he bought the BTC because a class he taught at Harvard University challenged him to get involved in cryptocurrency.

However, he is worried about bitcoin’s volatility and the regulators’ adverse response to it. “Every time I talk off the record to the regulators, because I talk to them all the time for various reasons, they’re a little squeamish on bitcoin, they are not quite there yet,†he cautioned.

O’Leary added, “When I can get this thing regulated so that I can put millions of dollars into it and know that I’m not off the side in any way. I’m not breaching anything … and it would be stable,†he affirmed:

He elaborated that if that happens, “I’d say okay I’m going to give it a 5% weighting so you know I don’t really want a significant portion of my portfolio having that amount of volatility.†He said he prefers to invest in an ETF and many of his investments are in ETFs.

As an investor who believes in diversification, O’Leary reiterated that it bothers him “a little bit†that “in the crypto space you have to be very concentrated to get these returns in one cryptocurrency, bitcoin.â€

Do you agree with O’Leary? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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