Businessman Kevin O’Leary, who appears on the reality TV show Shark Tank, appears to be pulling back from statements he made in December, indicating he might be buying more Bitcoin.
In an episode of his YouTube series released today entitled “Why I DON’T Invest in Bitcoin”, O’Leary spoke to Bitcoiner Anthony ‘Pomp’ Pompliano and called Bitcoin (BTC) a “giant nothing-citizen” in terms of its value as an asset. He argued that due to inconsistent regulatory frameworks around the world, he would not be able to make a “significant transaction” using the crypto assets.
“I’m looking at the intrinsic value of Bitcoin versus the intrinsic value of all things traded and Bitcoin is still a nothing-citizen – a giant nothing-citizen,” said O’Leary. “The reason I would argue that is the case is that not every institution is willing to play with it.”
The Shark Tank star isn’t entirely against Bitcoin, however. He appeared on an episode of Pomp’s podcast in December and revealed that he already owned some BTC and could consider investing anywhere from 1% to 2.5% of his portfolio in the crypto assets in the future. In his YouTube video today, the businessman also said that Bitcoin had the potential to become “something of immense value” if regulators in various countries started backing digital assets:
“If there was an attempt to take Bitcoin itself or any other currency […] that could be traded anywhere with the regulator agreeing and be agnostic – in other words, you could trade it to buy assets in Switzerland, trade it to buy assets in France, or in England, or in the United States […] everyone would use that digital currency. “
O’Leary is known for coming up with colorful yet critical nicknames. He has before referred to digital assets as ‘crypto crap’ and Bitcoin as ‘no real currency’ and as ‘rogue currency’.