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Shark Tank’s Kevin O’leary Offers Some Tips On How To Get Started With Bitcoin

Shark Tank’s Kevin O’Leary, dubbed Mr. Wonderful, offers some tips on how to get started with bitcoin and other cryptocurrencies. “It’s a fantastic universe.” It’s a tremendous asset. If you’re an investor, it’s a must-have,” O’Leary remarked. He also indicated that his cryptocurrency exposure has increased to around 10%.

During an interview with Bitcoin Magazine published earlier this month, Shark Tank star Kevin O’Leary, chairman of O’Shares ETFs, offered some advice for prospective investors looking to enter into bitcoin or the crypto world for the first time.

“Do you have any advice for people who are curious about bitcoin or are just getting into the space?” O’Leary was asked. He responded:

“I really advise them to explore this asset and the way to do it is to start small, start to understand the platforms. Are you going to buy it through a centralized wallet? Are you going to decentralize? Try all the options, learn by experience.”

“The problem about bitcoin is that you have to learn how to operate with it,” he continued. There are numerous approaches to it. There are numerous ways to own it.”

“His 25-year-old kid is perfectly skilled now at all of the ways to own bitcoin — all of the ways to trade it, all of the ways to own it, all of the ways to stake it,” the Shark Tank star continued. He represents the next generation. He accomplished it all by himself. He’s never been inside a bank. He never walks into a bank, and he has no idea why.”

O’Leary went on.: “Gen Z and millennials, and now baby boomers, are all learning. They make mistakes. I know people have lost their coins, but they did it on a small basis. And they don’t make that mistake again. They create awareness of how to do it.”

He emphasized, “It’s a wonderful universe. It’s a fantastic asset. It’s a must-own if you’re an investor, and then it’s about how you do it. But it’s all about education.”

O’Leary noted that the good news is there is a “community that provides a tremendous resource online. You can spend just three or four hours and you will become … quite knowledgeable on what Bitcoin is, how it works, and how to own it.”

During a Reddit Talk session on Thursday, he revealed that his crypto holdings include a variety of cryptocurrencies as well as companies and products in the field, such as those developing decentralised wallets. “So, by the end of the year, we’ll have a pretty big stake in crypto assets, and it’s not only bitcoin,” he explained.

While the Shark Tank star did not reveal all of his cryptocurrency assets, he did state that he owned bitcoin, ether, and USD coin, among other things. He acknowledged possessing “a lot of ethereum.” In 2017, he purchased his first coin.

Mr. Wonderful revealed, “I’ve grown the portfolio remarkably. At the beginning of the year, I was at 3% weight. The target was to get 7% by year-end. However, because of the appreciation of so many of the assets I have now, we’re almost at 10% today.”

For the first time, he stated in early October that his crypto exposure was more than gold. In September, he predicted that a “trillion dollars” will come into BTC.