Shark Tank star Kevin O’Leary, aka Mr. Wonderful, states he has zero interest in investing in anything with litigation from the U.S. Securities and Exchange Commission (SEC). “That is a very bad idea,” he stated. Discussing the SEC claim against Ripple over XRP, he stressed: “I have no interest in being a crypto cowboy … I have to be compliant.”
Kevin O’Leary Says He Must Not Upset Regulators
Shark Tank star Kevin O’Leary, the chairman of O’shares ETF, spoke about cryptocurrency, bitcoin, XRP, Ripple’s claim, and crypto regulation in an interview with CNBC released Friday.
He discussed that he chooses to speak with regulators concerning cryptocurrency in order to discover “what’s possible and what isn’t.”
Commenting on the claim brought by the U.S. Securities and Exchange Commission (SEC) against Ripple over the sale of XRP, O’Leary worried:
I have zero interest in investing in litigation against the SEC. That is an extremely bad concept.
The SEC took legal action against Ripple, its CEO Brad Garlinghouse, and co-founder Chris Larsen over the sale of $1.3 billion worth of the XRP tokens, declaring that it was an unregistered securities offering. Ripple and its executives have argued that XRP is not a security.
Garlinghouse just recently stated that he anticipates the claim to come to a conclusion next year, keeping in mind, “We are seeing pretty good progress.” Even the CEO of the Nasdaq-noted crypto exchange Coinbase, Brian Armstrong, thinks that the claim is going much better than anticipated.
However, O’Leary stated that he chooses to abide by regulators “because that’s where the real capital is.” He stressed:
I have no interest in being a crypto cowboy and getting anyone dissatisfied with me due to the fact that … I have a lot of properties in the real life that I’ve invested in currently that I need to be certified.
Mr. Wonderful is likewise not keen on meme cryptocurrencies. He stated in July that he will not invest in the popular meme crypto dogecoin (DOGE), keeping in mind, “I don’t understand why anybody would.”
Nonetheless, cryptocurrency now represents about 10% of his portfolio. His crypto direct exposure surpassed his gold direct exposure for the very first time in early October. In September, the Shark Tank star stated he anticipate a trillion dollars more streaming into bitcoin.
What do you think of Kevin O’Leary’s remarks? Let us understand in the remarks area listed below.
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