The investor and star of the television show “Shark Tank,” Kevin O’Leary, said he would invest 5% of his portfolio in bitcoin if it were offered as a traded-on-exchange fund (ETF).
During a podcast with Morgan Creek Digital founder Anthony Pompliano, the investor called the cryptocurrency ETF the most liquid instrument for trading bitcoin. In his view, SEC approval would persuade institutional investors to buy the digital asset.
“If tomorrow morning I wake up and the SEC says that a bitcoin ETF can be created, it will not only go up, but many, including me, will invest in it,” said O’Leary.
The television star noted that crypto investors find it difficult to allocate across a portfolio of coins, unlike the traditional financial market. In his view, an ETF would solve the problem.
He also added that he keeps a substantial stake in cryptocurrency despite the transaction costs of entering and exiting bitcoin.
Earlier, the star of the show was skeptical about digital gold and Pompliano. In August 2019, O’Leary called the latter crazy for his investment approach.
“I teach this stuff you never go beyond concentrations of that nature. 50% shame on you! That’s nuts!” @kevinolearytv tells @apompliano #btc pic.twitter.com/e4pTEt5sgC
— Squawk Box (@SquawkCNBC) August 6, 2019
In October 2020, Pompliano reported moving 80% of his assets into bitcoin.
Earlier, the SEC announced readiness to consider the possibility of creating a tokenized ETF.
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