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▲ Altcoin, Cryptocurrency Sale/AI Generated Image
Kevin O'Leary, a Canadian billionaire investor who appeared on the American TV show Shark Tank, sold all 27 types of altcoins he held. He also shifted his top investment priority from cryptocurrencies to power infrastructure.
According to Stocktwits on August 2 (local time), O'Leary named power infrastructure as the asset most likely to generate the highest returns in his portfolio on the Money Rehab podcast. He stated, “A pure power strategy, investing in companies that manufacture power generation turbines and transmission equipment, or secure nuclear and hydroelectric power generation contracts, will yield the highest performance.”
O'Leary noted that the artificial intelligence and Bitcoin (BTC) industries are simultaneously driving up electricity demand. As his preferred crypto-related investment, he suggested Bitzero (AIBZ), which supplies power to hyperscalers. He said, “You just need to secure power, land, fiber optic networks, and permits. It doesn't matter whether the client is an AI company or a Bitcoin company.” AIBZ shares fell more than 3% on Friday. Individual investor sentiment remained in a bearish zone, and related post volume increased from moderate to high overnight.
He also significantly reduced his cryptocurrency portfolio. O'Leary announced that he had disposed of all 27 altcoins he owned, retaining only Bitcoin, Ethereum (ETH), and Circle (CRCL)'s stablecoin USDC. The proportion of cryptocurrencies in his overall portfolio decreased from a peak of 24% to 14%. This reflects both price declines and intentional reduction of holdings.
O'Leary stated that he divested from altcoins after an institutional analyst explained that Bitcoin and Ethereum account for 97% of cryptocurrency market volatility. He referred to the remaining altcoins as “shitcoins” and said, “All the shitcoins have collapsed.” He also evaluated the cryptocurrency craze as being closer to speculative fads with expired lifespans, like NFTs and Labubu.
Bitcoin showed no significant price fluctuations in the last 24 hours. Individual investor sentiment remained in a bearish zone, and related post volume increased from low to moderate. While O'Leary retained only Bitcoin, Ethereum, and USDC for institutional investment, he presented power infrastructure as his most confident investment.
[Article Key Summary]
-Kevin O'Leary sold all 27 types of altcoins he held, retaining only Bitcoin, Ethereum, and USDC.
-The proportion of cryptocurrencies in his overall portfolio decreased from a peak of 24% to 14%.
-O'Leary cited increasing power demand from the artificial intelligence and Bitcoin industries as the basis for his prioritization of power infrastructure as an investment.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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