With the introduction of the first Bitcoin Bitcoin/USD ETF, the cryptocurrency landscape has evolved, making Bitcoin accessible to a wider audience.
However, the “Shark Tank” star. Kevin O’Leary maintains a firm stance on the merits of direct ownership of Bitcoin versus investing via an ETF.
In a recent interview with TheStreet, O’Leary acknowledged the importance of the first Bitcoin ETF as a milestone for broader adoption.
He also highlighted the unnecessary fees associated with ETFs and the benefits of direct ownership.
“I think it’s great that we finally have a Bitcoin ETF because there are a lot of people who own Bitcoin through an ETF. I would never do that. Why would I pay fees? There is no added value in an ETF. I just own the money directly,” O’Leary explained, underlining the direct approach to cryptocurrency investments.
However, he sees the advent of the Bitcoin ETF as a signal towards the end of the “crypto cowboy” era and a step towards the integration of crypto technology within regulated financial services.
Read also: Shark Tank’s Kevin O’Leary outraged by fine against Donald Trump in New York civil fraud case: ‘It’s scary.’ He’s unfair…he’s un-American”
“What I really like is that it’s sending a signal that the era of the crypto cowboy is over and that now financial services companies that are forced and want to be regulated because that’s how they do business, can start to embrace crypto technology , including digital payment systems, in their wallets,” he added.
Discuss current challenges in the cryptocurrency exchange market, such as the legal battles it faces Binance and the fall of FTXO’Leary highlighted the shift towards compliant platforms such as M2 Exchange in Abu Dhabi.
He highlighted the importance of regulatory compliance and the growing need for such platforms globally, citing the Canadian DeFi exchange as a model for regulation.
As for his personal investment strategy, O’Leary said he views Bitcoin as “digital gold,” assigning it a 5% weighting along with a similar weighting to gold, and adjusting his portfolio quarterly based on its performance. ‘asset.
In addition to Bitcoin, O’Leary’s crypto portfolio includes other technologies such as H-bar, Solana, and Polygon, which account for approximately 11% of his total investments.
Now read: Forget Dogecoin and Shiba Inu: This Meme Coin Rises Nearly 70% in Just 24 Hours
This content was partially produced with the help of artificial intelligence tools and was reviewed and published by Benzinga editors.