Kevin O’Leary: Most Altcoins Are Worthless
Investor and Shark Tank star Kevin O’Leary has said that most digital assets are worthless and will eventually collapse to zero.
According to him:
“10,000 tokens, most of which are worthless. They will eventually drop to zero due to lack of volatility and volume of trading. They are not needed.”
He spoke about the loss of all crypto investments after the crash of FTX in November last year. After that, he opened new positions in Bitcoin, Ethereum, Polygon as well as other assets.
He has said:
“We went back to look at the volatility of our portfolio before the FTX crash and after. We had 32 positions, now we have seven, and we get the same volatility.”
O’Leary predicted earlier this year that there would be new bankruptcies among unregulated crypto exchanges.
