Mr. Wonderful Kevin O’Leary Is Not Selling
Not only is O’Leary not selling, he believes that this drop and others like it are healthy for the space as a whole:
Kevin O’Leary is Not Selling, Despite the Recent Crypto Collapse
Ever since he turned into an advocate of the digital asset industry, O’Leary has backed the sector during good and bad times. Touching upon the latest crash (when bitcoin dipped below $18,000), he said volatility is something normal, and it should not push investors out of the ecosystem. He further asserted that he will not liquidate any of his crypto positions:
“I’m not selling anything. Long term, you just have to stomach it. You have to understand you’ll get volatility and that some projects aren’t going to work.”
The Canadian has invested in 32 different digital assets, including Bitcoin (BTC), Ether (ETH), Solana (SOL), Avalanche (AVAX), and more. Earlier this year, he revealed that his crypto exposure represents 20% of his total wealth. He also believes diversifying is vital as one couldn’t predict which asset will emerge as the most successful.
Commenting further on the downturn, O’Leary argued that the crypto industry will actually benefit from it. In his view, the turbulence will sweep small projects that have no place in the market. Such significant drops could also indicate that the industry will soon head towards a recovery phase.