Kevin O’Leary is a VC investor and businessman famous from the reality show, Shark Tank. As an investment guru, Kevin O’Leary’s comments are closely watched and followed by the people. Even in Shark Tank, he projects himself as the most rational and realistic voices in the game.
Nevertheless, O’Leary’s recent comment on Bitcoin reveals hypocrisy. In an interview earlier this year, he had called it “raw speculation” and said that he does not see any long term value.
More recently, he bashed Anthony Pompliano for holding a substantial amount of Bitcoin in this portfolio.
However, in an interview from 2013 brought into attention by a Twitter user, Thomas Schulz, Kevin O’Leary is seen expressing views like a ‘Bitcoiner’ or a ‘Bitcoin maximalist.’
In the Video excerpt from 2013 shared by Thomas, on Bitcoin’s Intrinsic Value O’Leary says,
You can buy Bitcoin virtually with any currency on Earth or convert back to any currency or buy goods and services from it… I think the best way to look at it. This is a proxy for the mistrust individuals have for central bankers. But you know don’t trust any other currency. This is where you go.
On Central Bankers, he says,
People all over the world are saying I have had it with my Central Banker. I don’t trust Politicians anymore. I am going to trade with this currency with my computer and my cell phone.
Not once, not twice, O’leary reaffirmed that the fact at least four times that “It’s here to stay” and also agreed that it is a legitimate form of currency to trade. He said,
Here’s the key: Owners of hard assets are willing to take Bitcoin. This is here to stay and no Central Bank can control it.
Last but not least, he also talked about the rough estimates of the quantum of potential growth that Bitcoin stands to make. He said,
Currency markets are the largest market in the world. Bigger than commodities, bigger than stocks, bigger than bonds. It’s going to grow but it’s going to take a long time.
Bitcoin did lose its value as a viable currency due to the high transaction cost. However, apart from that, the rest of the characteristics are still the same. Moreover, Bitcoin lightning is also expected to become mainstream soon.
Furthermore, he predicted also that the growth of Bitcoin would take a long time. As reported earlier on CoinGape, O’leary has also been known to invest in cryptocurrency and blockchain start-ups. Hence, either Kevin O’leary is secretly a Bitcoin bull, or he needs to remind himself of its value propositions that he once believed himself.
Do you think that Kevin O’Leary held large amounts of Bitcoin during 2017 bull run? Please share your views with us.
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Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com