Kevin O’Leary calls most altcoins ‘worthless’


Investor and Shark Tank star Kevin O’Leary on a podcast The Wolf Of All Streets stated that most digital assets are worthless and will eventually collapse to zero.

“10,000 tokens, most of which are worthless. They will eventually drop to zero due to lack of volatility and volume. [торгов]. They are not needed,” he said.

O’Leary spoke about the loss of all crypto investments after the crash of FTX in November 2022. After that, he opened new positions in Bitcoin, Ethereum, Polygon and other assets.

“We returned to look at the volatility of our portfolio before [краха] FTX and after. We had 32 positions, now we have seven, and we get the same volatility,” the investor said.

Recall that in January, O’Leary predicted new bankruptcies among unregulated cryptocurrency exchanges.

In November 2022, the Shark Tank star admitted that he sympathizes with FTX founder Sam Bankman-Freed (SBF). He called him a brilliant trader and expressed a desire to support him if a new project was launched.

O’Leary also stated that he did not hold the SBF guilty until his alleged fraud was proven. The investor called Binance involved in the collapse of the bitcoin exchange.

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