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Businessman Kevin O’Leary, who appears on the Shark Tank reality show, appears to be backing away from statements he made in December that he might buy 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 ‘Pomp’ Pompliano and called Bitcoin (BTC) a “nothing giant burger “in terms of value as an asset. He argued that he would be unable to make “a major transaction” using the crypto asset due to inconsistent regulatory frameworks across the world.
“I look at the asset value of Bitcoin versus the asset value of all things traded and Bitcoin is still a nothing hamburger – a giant nothing burger,” O’Leary said. “The reason I would say it is is that not all institutions are willing to play with it.”
The Shark Tank star isn’t completely against Bitcoin, however. He appeared in an episode of Pomp’s podcast in December and revealed that he already owns BTC and may consider investing between 1% and 2.5% of his portfolio in the crypto asset at the to come up. In his YouTube video today, the businessman also said that Bitcoin has the potential to become “something very valuable” if regulators in different countries start supporting digital assets:
“If there was an attempt to take Bitcoin itself or another currency […] which could be traded anywhere with the consenting regulator and would be agnostic – in other words, you could swap it to buy assets in Switzerland, swap it to buy assets in France, England or the United States […] everyone would take this digital currency. “
O’Leary is known for inventing colorful but critical nicknames. He previously called digital assets “crap crypto” and Bitcoin “not a real currency” and a “rogue currency”.
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