Friday, June 14, 2024

Along with Bitcoin, Ethereum, Kevin O’Leary ‘needs’ to invest in Solana, Polygon, Hedera


Kevin O’Leary, one of the most vocal institutional cryptocurrency investors, has expanded his digital asset holdings considerably over the past year. Once critical of the new asset class, the “Shark Tank” star and investor has since increased his investments in crypto to 10% of his portfolio, it is true that in Bitcoin, Ethereum, and USDCoin.

The Canadian businessman secretly has other digital currencies, along with companies that make products in space. Companies like decentralized portfolios and have reported plans to further expand their portfolio. And the only factor that weighs heavily in their selection is the fundamental value of the cryptocurrency, O’Leary revealed while talking to CNBC.

He said that he does not view cryptocurrencies in the same way that other people do, but instead focuses on its “software development” aspect. Therefore, it was important for him to understand which blockchain platform would “win in the long run” by investing in the space.

“I don’t know who will be the winner”

Some of the winners include Solarium, Polygon, and HBAR, according to O’Leary, all of which have recently been causing a sensation in the DeFi community. He further added,

“I need to invest in all of them, not just one because I don’t know who will be the winner.”

Solana and Polygon have seen a huge increase in popularity and adoption in the past year, thanks to the congestion issues that the Ethereum network routinely faces.

While Polygon is a Layer 2 protocol that provides scalability to Ethereum, Solana has become one of ETH’s fiercest opponents by offering ultra-fast transactions and significantly lower fees. On the back of this success, the native tokens of both platforms have also appreciated multiple folds during this time.

While Kevin O’Leary has been a fierce Ethereum supporter in the past, he hadn’t been shy about admitting his belief in its competitors. In a previous interviewHe had noticed that it was all part of diversification, which is key for an investor like him.

As for HBAR, which is the native token of distributed ledger technology Hedera Hashgraph, its inclusion is not surprising considering the big names like Google and IBM that are associated with the protocol. Hedera focuses on decentralizing operations and governance. Most of the major technology companies around the world sit on its governing council. It is also reported to have the lowest environmental impact of any proof-of-stake blockchain.

Even then, HBAR is the 37th highest rated cryptocurrency in CoinGecko, having lost 40% of its valuation since it last hit an all-time high in mid-September.

This is a machine translation of our English version.

Ebenezer Robbins
Ebenezer Robbins
Introvert. Beer guru. Communicator. Travel fanatic. Web advocate. Certified alcohol geek. Tv buff. Subtly charming internet aficionado.

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