Is Kevin O’Leary Bluffing? He Lauded Bitcoin (BTC) In 2013

Is Kevin O’Leary Bluffing? He Lauded Bitcoin (BTC) In 2013

Canadian Businessman Bashes Bitcoin, Despite His Previous Optimism

Just the other day, Kevin OLeary, who also goes by the nickname Mr. Wonderful, appeared on CNBC to give his thoughts on Bitcoin (BTC). His nose for “crap” purportedly served him well on the segment, which was Tuesday’s “Squawk Box” episode. As we reported, the Canadian businessman who is valued in the hundreds of millions called Bitcoin a “digital game”, rather than an investment, currency, or newfangled asset class. He then dubbed BTC “worthless”, noting that the lack of liquidity and market share of Bitcoin is an issue in his eyes. As he put it, Bitcoin is “crypto crap”. Well put, we guess?

He then explained that he once put $100 into Coinbase, bought the exchange’s basket of assets vehicle, and then proceeded to lose $70. This loss doesn’t deem something a bad investment per se, but let’s give O’Leary the benefit of the doubt here.

In a weird twist of fate, the businessman was recently revealed to have expressed cautious optimism towards the cryptocurrency market in 2013. Spotted by fundamental analyst Ceteris Paribus, O’Leary appeared in a 2013 segment on Canadian news outlet CBC to talk about Bitcoin, which had then just suffered a 60% drawdown… in a single day. And surprisingly, he was somewhat bullish.

During his three-minute showing, O’Leary claimed that he sees Bitcoin as a bet against central banks and that it is “here to stay”, looking to the fact that it was then sported a market capitalization of $1 billion. He even quipped that he wouldn’t be against putting 2% to 3% of his personal portfolio towards BTC, citing it as a way to diversify his currency holdings. What?

This all begs the question, what happened between Bitcoin and O’Leary over the past five years? Did he miss out, is he looking to accumulate more, or did he forget entirely about the cryptocurrency? Right now, no one is all too sure.

But if the market rallies again, and O’Leary is called on to impart some information about this space, maybe we can finally figure out what exactly is going on.

Skeptic Turns Believer

In a similar fashion, Mark Mobius, a legendary investor, has flipped from bear to bull on the leading cryptocurrency. In a Bloomberg podcast released this week, the 80-something founder of Mobius Capital Partners LLP., he claimed that Bitcoin will be “alive and well”, well, well (repetition was intentional) into the future. As we reported previously, Mobius remarked that there is a need for Bitcoin, looking to the fact that there “definitely [is] a desire among people around the world to have the ability to transfer money easily and confidentially. I believe Bitcoin and other currencies of that type are going to be alive and well.”

Well what did ya know? A bear turned bull, and a bull turned bear on the same day.

Title Image Courtesy of Noah Silliman Via Unsplash

The post Is Kevin O’Leary Bluffing? He Lauded Bitcoin (BTC) In 2013 appeared first on Ethereum World News.

16.05.2019 / 19:00 69
TV ‘Shark’ Dismisses Bitcoin As ‘Worthless’ Based On One Unsuccessful Real Estate Deal TV ‘Shark’ Dismisses Bitcoin As
‘Shark Tank’ investor, Kevin O’Leary, has been dialling up the FUD, calling Bitcoin ‘garbage’ on CNBC’s Squawk Box. He felt the need to interject his
Here’s What Shark Tank’s Kevin O’Leary Gets Wrong About Bitcoin Here’s What Shark Tank’s Kevin O’Leary
Kevin O’Leary has stated that Bitcoin is “garbage” , a “digital game”, and ultimately, “worthless”. The Shark Tank investor attacked Bitcoin and the
Shark Tank’s Kevin O’Leary Calls Bitcoin (BTC) ‘Garbage’ Shark Tank’s Kevin O’Leary Calls
One of Shark Tanks most prominent investors has taken aim at Bitcoin and cryptocurrency. Kevin OLeary, who also goes by the nickname Mr. Wonderful on
Crypto Entrepreneur Gains Kevin O’Leary’s Approval, Scores $100k Investment Crypto Entrepreneur Gains Kevin
Betting on an impending crypto bull run, a number of prominent investors have recently thrown mounds of capital at promising cryptocurrency and
Ethereum (ETH) Named king of Crypto by Kevin O’Leary, reaches $500.00 Ethereum (ETH) Named king of Crypto by
It is the best second day of the week possible for crypto-enthusiasts as the digital assets finally make it above the very resistant levels. Bitcoin
Shark Tank’s Kevin O’Leary Sees Ethereum Will Beat Bitcoin and Gain Dominance Shark Tank’s Kevin O’Leary Sees
Kevin OLeary, a prominent Canadian entrepreneur, the co-founder of OLeary Funds and SoftKey, and one of the stars of Shark Tank, has said in an
Comments (0)
Add a comment
Comment on