„It’s a burger of nothing“: Kevin O’Leary of Shark Tank explains why he’s not investing in Bitcoin

Despite criticizing Bitcoin, the Shark Tank star also said that the digital asset could become „something of great value“ if regulators decided to back it.

Entrepreneur Kevin O’Leary, who appears on the reality show „Shark Tank,“ seems to be recanting the statements he made in December that he could buy more Bitcoin.

Mark Cuban is more interested in crypt coins than he had previously said

In an episode of his YouTube series released today titled „Why I’m NOT Investing in Bitcoin“, O’Leary spoke to the bitcoiner, Anthony ‚Pomp‘ Pompliano, and called Immediate Edge review a „giant burger of nothing“ in terms of its value as an asset. He argued that he could not make „a significant transaction“ using cryptoactive due to inconsistent regulatory frameworks around the world.

„I look at Bitcoin’s value as an asset versus the value as an asset of all things traded, and Bitcoin is still a nothing burger, a giant nothing burger,“ said O’Leary. „The reason I would say that’s the case is that you don’t have all the institutions willing to play with it.

Goldman Sachs analyst says Bitcoin is beginning to mature as an asset class

However, the Shark Tank star is not completely against Bitcoin. He appeared in an episode of the Pomp podcast in December and revealed that he already owned some BTCs and might consider investing between 1% and 2.5% of his portfolio in cryptoactive in the future. In his YouTube video today, the entrepreneur also said that Bitcoin had the potential to become „something of great value“ if regulators in different countries backed digital assets:

„If there were an attempt to take Bitcoin itself or some other currency … that could be traded everywhere with the regulator agreeing and would be agnostic, in other words, it could be traded to buy assets in Switzerland, traded to buy assets in France, or England, or the United States … everyone would accept that digital currency.

The Winklevoss brothers top Forbes‘ list of Bitcoin billionaires

O’Leary is known for inventing colorful but critical nicknames. He previously referred to digital assets as „crypto junk“ and Bitcoin as „a currency that is not real“ and „fraudulent currency.