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Despite criticizing Bitcoin, the Shark Tank star also said the digital asset could become âsomething of tremendous valueâ if regulators were to back it.
Businessman Kevin O'Leary, who appears on the reality TV show Shark Tank, seems to be backing away from statements he made in December indicating he might purchase more Bitcoin.
In an episode of his YouTube series released today titled "Why I'm NOT Investing in Bitcoin," O'Leary spoke to Bitcoiner Anthony âPompâ Pompliano and called Bitcoin (BTC) a âgiant nothing burgerâ in terms of its value as an asset. He argued he would be unable to make âa significant transactionâ using the crypto asset because of inconsistent regulatory frameworks across the world.
âI look at the asset value of Bitcoin versus the asset value of all things traded and Bitcoin is still a nothing burger â a giant nothing burger,â said OâLeary. âThe reason I would argue that that's the case is you don't have every institution willing to play ball with it.â
The Shark Tank star is not completely against Bitcoin however. He appeared on an episode of Pompâs podcast in December and revealed that he already owned some BTC and might consider investing anywhere from 1% to 2.5% of his portfolio into the crypto asset in future. In his YouTube video today, the businessman alssaid Bitcoin had the potential to become âsomething of tremendous valueâ if regulators in different countries were to get behind digital assets:
âIf there was an attempt to either take Bitcoin itself or some other currency [...] that could be traded everywhere with the regulator agreeing to it and would be agnostic â in other words, you could trade it to buy assets in Switzerland, trade it to buy assets in France, or in England, or in the United States [...] everybody would take that digital currency.â
O'Leary is known for coming up with colorful but critical nicknames. He has previously referred to digital assets as âcrypto crapâ and Bitcoin as ânot a real currencyâ and a ârogue currency.â
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