Celebrity investor Kevin O'Leary predicts that trillions of dollars are coming to the crypto market
The prominent Canada-born investor Kevin O'Leary, who is mostly known for his appearances in the US reality TV show Shark Tank, has once again asserted his optimistic outlook regarding the crypto market, which according to him is very promising. Therefore O'Leary plans to buy much more crypto assets like the recently surging Bitcoin for his private portfolio until the end of 2021.
O'Leary forecasts that the steadily increasing financial interest in cryptocurrencies will bring trillions of dollars to the crypto market. For this reason he plans to double the position ratio of his crypto assets to 7 percent, which means that percentage-wise he has invested more in crypto that in the safe haven gold. But O'Leary's optimistic crypto prognosis also highlights the importance of a diversified portfolio.
According to an article by Yahoo Finance, O'Leary's largest investment fund, the O’Shares U.S. Quality Dividend ETF (OUSA), carries no crypto assets at all and instead invests in growing and profitable American companies with high dividend yields. However, in regard to his private portfolio, O'Leary appears to follow the advice of many financial experts who recommend a crypto position ratio of under 10 percent. Conservative investors often recommend to invest 5 percent or less in cryptocurrencies, whereas a crypto ratio closer to 10 percent is considered to be high risk.
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Disclaimer: This article is for informational purposes only and does not include any kind of investment advice.
Yahoo Finance, Image: ABC