Kevin O’Leary Says He’s Selling These Underwater Cryptos to Invest in Bitcoin
Ditch the sh!tcoins and invest in Bitcoin, hodl, and repeat as often as possible
Kevin O’Leary Outlines Bear Market Strategy, Says He’s Selling These Underwater Cryptos To Invest in Bitcoin
“Shark Tank investor Kevin O’Leary says he is implementing a new investment strategy for his crypto holdings as digital assets remain in a bear market.
In a new interview with Daniela Cambone of Stansberry Research, O’Leary outlines the crypto investment steps he is taking heading into the year’s end.
He says he plans to sell crypto investments that are currently underwater and invest most, if not all, those funds in Bitcoin (BTC).
‘Well, I’m doing what a lot of other traders are doing. I’m going into the November time period with over 34 different positions on, many of them underwater. So naturally, what I’m going to do, now that the IRS and other regulators around the world are now looking at crypto in terms of tax compensation very much like a security, I’m going to have to trade.
So I’m going to be doing trading, taking some of the projects that have been decimated down 40%, 50%, 60%, 70%, 80%, 90%, selling those and basically buying what I consider the granddaddy index of all crypto, Bitcoin.’”