Shark Tank star Kevin O’Leary, aka Mr. Wonderful, says he does
not consider dogecoin an investment. “I don’t participate in that kind
of thing. I don’t understand why anybody would,” he said.
Kevin O’Leary Won’t Invest in Dogecoin
Shark Tank star Kevin O’Leary talked about the meme cryptocurrency
dogecoin in an interview with CNBC last week. The chairman of O’Shares
ETFs said:
I don’t participate in that kind of thing. I don’t understand why anybody would, but that’s their own choice.
He explained that investing in dogecoin is like gambling in Las Vegas, noting that he might not even call it “investing” at all.
The Shark Tank star explained that when someone invests in a stock,
they are betting on the company’s ability to execute its business plan
and achieve its goals. In contrast, he said that there is no informed
decision making with dogecoin as buyers are simply hoping that the price
of the cryptocurrency will increase. In addition, dogecoin has an
unlimited supply, unlike bitcoin.
O’Leary suggested: “Maybe you should consider it entertainment
because there’s no inherent value in it other than what other people
want to do as they speculate.” He elaborated:
When you speculate on something like dogecoin, that’s no
different than going to Las Vegas and putting your money on red or
black. It’s pure speculation.
source link : https://news.bitcoin.com/shark-tanks-kevin-oleary-invest-dogecoin/
