Why Kevin O’Leary Sold 27 Crypto Positions, What He’s Investing In Now
The contrast: The investor offered a harsh reality check for altcoins, which he dismissively refers to as “PooPoo coins.”
- O’Leary sold 27 positions in October, arguing that sovereign wealth funds and indexers only care about Bitcoin and Ethereum.
- He claims these two assets capture over 97% of the market’s alpha, making other tokens “worthless” to large allocators.
- Despite hype around Solana, he views it as “just software” facing a “Sisyphean task” to catch up to Ethereum’s marketing and adoption.
What comes next: No significant capital appreciation is expected for crypto until the “Clarity Act” passes, which O’Leary predicts will happen by mid-May.
- He attributes the legislative stall partly to Coinbase’s resistance regarding yield on…
