Gate News message, April 23 — Renowned investor Kevin O’Leary stated that only Bitcoin and Ethereum deserve a place in investment portfolios, according to remarks made on the Varney & Co. program. The President of O’Leary Ventures said he has restructured his crypto holdings after years of diversification, citing changing regulatory expectations and increased institutional investor influence in the market.
O’Leary, who previously held positions in 27 different crypto assets, argued that this broad approach is no longer viable. “Now all you need to own is Bitcoin and Ethereum. These two assets account for 97 percent of the volatility of all other ‘junk’ coins in the market,” he stated. He attributed this shift to the disappearance of thousands of small-scale crypto projects following the market downturn in October of last year, reinforcing his decision to exit these assets.
The investor noted that many tokens have lost their value proposition as institutional capital has become more selective. “Thousands of projects collapsed and didn’t come back. So why not focus only on these two strong assets?” O’Leary said.
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