Kevin O’Leary Says He’ll Never Buy Bitcoin ETF — Prefers to Hold BTC Long Term

Kevin O’Leary Won’t Invest in Spot Bitcoin ETFs

Kevin O’Leary, also known as Mr. Wonderful, recently expressed his stance on spot bitcoin exchange-traded funds (ETFs), stating that he will never buy them. Instead, he prefers to hold bitcoin for the long term, considering it as digital gold. O’Leary questioned the need to pay fees associated with spot bitcoin ETFs, claiming that they offer no value and are completely unnecessary. However, he acknowledged that the approval of spot bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC) is positive news for institutional investors interested in crypto.

In an interview with Fox Business, O’Leary, the chairman of O’shares Investments and O’Leary Ventures, provided advice on spot bitcoin ETFs. He addressed the question of how investors should decide whether to invest in a spot bitcoin ETF and how to choose among the 11 funds recently approved by the SEC.

According to O’Leary, although each vendor may claim their spot bitcoin ETF is unique, they are essentially identical. He emphasized the importance of paying attention to the fee structure of each ETF, as the fees range from approximately 0.21% to 1.5% for the 11 approved spot bitcoin ETFs. O’Leary expressed his perspective as follows:

"If you are a purist and you’re just holding bitcoin for the long term as a digital gold, as I am, I will never buy an ETF. Why would I pay these fees? It’s completely unnecessary. They add no value to me."

He also highlighted that the approval of spot bitcoin ETFs signifies progress in cryptocurrency regulations. However, O’Leary doubted the survival of all 11 approved ETFs and advised investors to monitor their assets under management (AUM). He predicted that major players like Fidelity and Blackrock have higher chances of success due to their extensive sales forces.

Nevertheless, O’Leary emphasized that institutions are not interested in spot bitcoin ETFs and are unlikely to pay the associated fees. However, he acknowledged that the SEC's approval of spot bitcoin ETFs is favorable for institutional investors, as it provides an opportunity for them to enter the crypto market. O’Leary concluded:

"This is a good thing for them to eventually get into crypto."

Earlier this month, O’Leary expressed his belief in strong institutional interest in crypto, regardless of the SEC's decision on spot bitcoin ETFs. In November of last year, he revealed that all the institutions and major organizations he spoke to were prepared to invest in bitcoin. He stated that these entities were not interested in the multitude of tokens but considered bitcoin a commodity, given its liquidity and ability to store wealth.

What are your thoughts on Kevin O’Leary's statements about bitcoin and spot bitcoin ETFs? Share your opinions in the comments section below.

How To

How to hold physical gold in an IRA

An easy way to invest gold is to buy shares from gold-producing companies. But, this approach comes with risks. These companies may not survive the next few years. Even if they survive, there's always the risk that they will lose money due fluctuations in gold prices.

An alternative option would be to buy physical gold itself. This requires you to either open up your account at a bank or an online bullion dealer or simply purchase gold from a reputable seller. The advantages of this option include the ease of access (you don't need to deal with stock exchanges) and the ability to make purchases when prices are low. It is also easier to check how much gold you have stored. The receipt will show exactly what you paid. You'll also know if taxes were not paid. There's also less chance of theft than investing in stocks.

However, there are some disadvantages too. You won't get the bank's interest rates or investment money. You won't have the ability to diversify your holdings; you will be stuck with what you purchased. Finally, the taxman might want to know where your gold has been placed!

If you'd like to learn more about buying gold in an IRA, visit the website of today!


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