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\n\t\t\t\t\t\t\t\t\t\u201cShark Tank\u201d judge and business magnate Kevin O’Leary says he only recommends owning Bitcoin and Ethereum. Here’s why.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
O\u2019Leary, known as Mr. Wonderful, by friends and fans, has come a long way on cryptocurrencies like BTC and ETH.<\/p>\n
The Shark Tank star has gone from bashing Bitcoin<\/a>, to investing in<\/a> it, to saying<\/a> it will save the world. But now he\u2019s saying it\u2019s the best option for new or inexperienced crypto investors.<\/p>\n In an April interview on FOX Business\u2019 \u201cVarney & Co.,\u201d O\u2019Leary said he has exited the frothing altcoin markets. Instead, he\u2019s put all his crypto holdings in Bitcoin and Ethereum.<\/p>\n That is a pivot from this time last year, when the Shark Tank panelist recommended SUI<\/a>.<\/p>\n Now, O\u2019Leary calls altcoins<\/a> \u201cpooh-pooh coins.\u201d In addition to the crass name, he warned that thousands of cryptos have failed:\u201cWhat\u2019s happened to the pooh-poohs is they collapsed last October [ \u2026 ] Thousands of them never came back [ \u2026 ]\u00a0 At the end, why don\u2019t you just own those two?\u201d<\/p>\n<\/blockquote>\n SUI is down 71% on the 1-year window. That\u2019s a punishing fall from last year\u2019s highs, even compared to Bitcoin\u2019s 17.5% 12-month loss.<\/p>\n Meanwhile, Ethereum\u2019s price is up 71% over the same 12 months.<\/p>\n BTC and ETH began a swift recovery in April, but it\u2019s not the same story for SUI. Many other altcoins have also showed bearish inertia.<\/p>\n O\u2019Leary said it\u2019s easier and safer to go with the biggest coins with the most rounded out exposure to the rest of crypto\u2019s volatility.<\/p>\n \u201cSupporting 27 different positions [ \u2026 ]\u00a0 All you need to own is Bitcoin and Ethereum, and you own 97% of the volatility of all the other pooh-pooh coins.\u201d<\/p>\n<\/blockquote>\n Moreover, he\u2019s not alone. Michael Saylor\u2019s Strategy, Inc. invests exclusively<\/a> in Bitcoin out of all cryptocurrencies. Saylor frequently posts \u201claser eyes\u201d memes to emphasize focus.<\/p>\n Kevin O\u2019Leary also pointed to the growing adoption of stablecoin payment rails and the movement of institutional and regulatory power players to support his blue chip thesis.<\/p>\n The Shark Tank mastermind said the movement toward institutional adoption of crypto supports his conviction in Bitcoin and Ethereum, despite the risks.<\/p>\n While most cryptos have failed to justify their place in O\u2019Leary\u2019s portfolio by his standards, he still thinks Bitcoin and Ethereum are smart high-tech plays for investors.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\nRisky Altcoin Investments<\/h2>\n
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Bitcoin, Ethereum Dominance<\/h2>\n
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