The 5 Crypto Billionaire Kevin O’Leary is Buying During the 2022 Crash!

The 5 Cryptocurrency Billionaire Kevin O'Leary is Buying During the 2022 Crash!
pic credit: Benzinga

Did you know that Kelvin O’Leary, most commonly known as Mr. Wonderful from Shark Tank, is a BIG crypto investor? His crypto portfolio is currently sitting at roughly $100 million dollars and even as prices are going down he is still buying more! Welcome back to our website and keep reading for Mr. Wonderful’s top 5 crypto investments.

Investor Kevin O’Leary, A.K.A. Mr. Wonderful from the hit show “Shark Tank,” isn’t worried about the current bear market in cryptocurrencies. He believes that it will ultimately find support from more and more financial institutions and in the long term is bullish on the whole crypto industry.

The venture capitalist added that he has been increasing his stake now to over 20% of his total portfolio in a number of tokens like bitcoin and ethereum. So, who is Kevin O’Leary? How did he make his money? And most importantly, what do you think are the top five cryptos that billionaire Kevin O’Leary is buying during this crash?

But first, a quick disclaimer This article is for education and entertainment purposes only. So, if you need any financial advice, be sure to contact a certified financial advisor. And with that said, let s get started!

Who is Kevin O’Leary?

In the 1980s, O’Leary co-founded Special Event Television with two of his MBA classmates. And in the next year, he started a CD-ROM instructional software firm named Softkey, which he sold for $25,000 but remained with an unknown stake in the company. The company became big and later on purchased The Learning Company (TLC) in 1996 for more than $600 million.

Surprisingly, TLC was purchased by toymaker Mattel in 1999 for $4.2 billion. It was at this moment; that O’Leary departed the business soon after selling his stake. Later, he founded StorageNow Holdings, a commercial storage company, and began other private equity and venture capital initiatives. He also held different board roles and appeared on the television shows Dragon’s Den on CBC and Shark Tank on ABC.

The majority of Kevin O’Leary’s riches certainly came from the sale of TLC to Mattel in 99. However, the full amount that went into his pocket has never been made public. Nevertheless, in the years that followed, Kevin made much of his money from his media endeavors, including books, television, and public speaking.

Besides that, he also invested in several startups over the years as well as more traditional investments in mutual funds and ETFs. Apart from that he also works as a consultant and manages his own mutual fund. Sounds like a lot, right?

What about his crypto holdings?

The percentage of Kevin O’Leary’s cryptocurrency investments has increased to over 20% of his total portfolio. O’Leary claims in an interview with CNBC’s Squawk Box that he sees investing in cryptocurrencies as just like buying shares in a software company. According to him, Bitcoin is not a currency, it’s just software. But he was not always so forthcoming about crypto.

Actually, O’Leary is a former crypto skeptic who, less than three years ago, called Bitcoin “trash,” but has gradually changed his mind over the years. By March 2021, the billionaire had given in and admitted he intended to invest 3% of his assets in Bitcoin. He has now branched out into several different cryptocurrencies, and mining firms, and even became a spokesman for one of the world’s largest crypto exchanges, FTX.com.

He claimed that diversification is essential and that he holds 32 different cryptos and crypto-related stocks and uses the DCA technique to purchase more. And now you might be wondering, what is DCA? DCA stands for Dollar-cost averaging, it is the practice of making regular, usually monthly or quarterly, investments of a predetermined sum of money into a certain investment.

This tactic, which has the potential to reduce timing risk, is often used for riskier assets like equities, mutual funds, and, for O’Leary, cryptocurrencies. So, what are the top five cryptos that billionaire Kevin O’Leary is buying during this crash?

1. Bitcoin

Bitcoin

#1 is obviously Bitcoin. Bitcoin is the most valuable cryptocurrency in terms of its nominal value and market capitalization. No wonder, Kevin O Leary owns some. All due to reasons like Bitcoin’s monetary policy, which is not dependent on the whims of undependable third parties; rather, it is enforced by a specific mix of software, encryption, and financial incentives.

The Bitcoin ecosystem consists of a global network of participants, such as miners, who are responsible for network security and help power the creation of Bitcoin as a currency, also investors, who engage in market speculation on this commodity, and developers, who assist users in transitioning into the new paradigm of cryptocurrency.

Investors like Kevin O Leary have accepted lower prices over time; and as a result, the currency is currently in a medium-long term declining trend channel. An interesting fact is that Kevin does not only own Bitcoin but he also owns stakes in some of the well-known mining firms.

Bitcoin at the time of writing this article is sitting just under 20 thousand dollars per bitcoin, but even so, Mr. Wonderful is not fazed and plans to keep buying more for his portfolio.

2. Ethereum

Ethereum

Next on the list, is Ethereum. By market capitalization, Ethereum is the second-largest cryptocurrency behind Bitcoin. So no surprise that O leary has a piece of it as well. One of the reasons he likes Ethereum is the fact that Ethereum is more than just about making payments. It is a marketplace for games, applications, and financial services that cannot steal or censor your data.

Ethereum was the first cryptocurrency to provide smart contracts to consumers, just as Bitcoin was the first cryptocurrency in general. As a direct consequence of this, it has achieved and maintained a leadership position in all use cases that require the implementation of smart contracts.

This encompasses everything from the creation of common custom tokens, to the use of decentralized apps and non-fungible tokens also known as NFT s. Because of its top dog status, Ethereum has many competitors who want to steal a portion of the market share for decentralized finance and non-fungible tokens and have created similar ecosystems, trying to improve on the idea.

Some of these endeavors are being led by individuals who were originally involved in the creation of Ethereum. When you take a look at the price history, it s evident that Kevin O Leary has already made some profit with Ethereum. If he had bought the coin at the start of 2020, at the price of 130 dollars, he could have made a profit of 35X his stake, if he sold when Ethereum was at its peak.

However, even if he still holds Ethereum, he has an 8X profit as of July 1st.

3. Solana

Solana
Forbes

Next up we have Solana The highly functioning open-source project Solana relies on the permissionless feature of blockchain technology to offer decentralized finance solutions. Its protocol is intended to make it easier to create decentralized applications. Its proof-of-history consensus and the blockchain’s underlying proof-of-stake consensus are intended to increase scalability.

Investors in Solana’s novel hybrid consensus model include both small-time traders and large institutions. The Solana Foundation’s primary goal is to make decentralized financing more widely available.

Kevin O Leary believes that Solana can get the job done which is why he is investing heavily in projects such as these. Customers are able to grow to thousands of transactions per second on stock hardware thanks to the company’s technology, and most importantly create affordable transactions.

It’s quite an impressive coin that made huge profits last year, to both big investors like Kevin O Leary and small investors as well. The coin made over 25,000% profit as it moved from $1 in December 2020, to just over $250 in November 2021. Currently, as of this writing, the price sits under $40.

4. Polygon (Matic)

Polygon
Zipmex

Next, on the list is Polygon AKA Matic. It s a well-organized and user-friendly platform for scaling Ethereum and developing infrastructure. The base of the system is made up of the Polygon Software Development Kit. The Polygon Software Development Kit was designed with flexibility and independence in mind from the beginning.

Polygon effectively transforms Ethereum into a distributed ledger with several chains. Maybe that’s why O Leary decided to invest in the coin if you compare it to already existing multi-chain solutions such as Polkadot and Cosmos, but with the additional benefits of Ethereum’s robust ecosystem and complete transparency.

The potential to scale as well as the speed of transactions on the blockchain are the primary focuses of the project. So far, since its all-time low of $0.003 in May 2019, three years ago, sitting at its current price of 47 cents it has gained over 15,000 % profit.

At its all-time high of about $3, it was a whopping 100,000% return. Well, we can all attest that 15,000% is still quite a lot on a single investment, right?

5. FTT

FTT

Coming in at #1 we have FTT. In late 2021 Kelvin O’Leary agreed to a multi-year contract to act as FTX’s brand ambassador and spokesman. Their native coin is the FTT, which is used in the FTX cryptocurrency derivatives market. It offers a diverse selection of apps, all of which are geared toward enhancing the network effects of the platform while also catering to the needs of its users.

FTX is a cryptocurrency derivatives exchange that was founded in April 2019 and offers over-the-counter trading, as well as futures and leveraged tokens on both individual and baskets of crypto assets. Additionally, FTX offers binary options on the outcome of the 2020 American Presidential election.

It is backed by Alameda Research, a trading organization that has a daily turnover of between $600 million and $1 billion, which corresponds to around 5 percent of the overall market. And guess what? Approximately $30 million worth of free transactions meaning no fees for buying or selling is completed each day at the FTX OTC desk, which is powered by Alameda. It’s quite an incredible coin.

So far, since Sept 2019, three years ago, it has gained a 2000% profit. That s a 20X return.

And that’s it for today’s article. What do you think of Kelvin O’Leary’s top five cryptos? And would you invest in the same too? Comment below, and share your opinion!

Also Read:

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Are your crypto securities? For Solana fans, it’s unclear

The Future of Crypto, NFTs, and Web 3.0 in 2025

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