On Tuesday, March 3, 2020, at 8:30 a.m.
Kevin O’Leary, the Canadian businessman and television personality, appeared on CNBC’s “Squawk Box” to talk about the current state of the stock market amid the coronavirus outbreak.
During the interview, O’Leary said that he had bought some Bitcoin (BTC) the night before.
NOTE: This article is purely speculative and should not be taken as investment advice. Investing in cryptocurrency can be a risky endeavor and it is important to do your own research before investing. Investing in Bitcoin or any other cryptocurrency carries with it potential risks, including but not limited to, market volatility, price manipulation, and security vulnerabilities. There is no guarantee of any return on investment in cryptocurrency, and you should never invest more than you are willing to lose. You should always consult with a licensed financial advisor before making any investments.
“I bought it last night just because I think we are in a deflationary spiral,” O’Leary said. “I don’t know where else to put my money.”
This is not the first time O’Leary has spoken about Bitcoin on CNBC. In December 2019, he said that he thought Bitcoin was a “huge speculative bubble.”
At the time of writing, Bitcoin is trading at $7,700, up from its Tuesday low of $7,200. It is unclear how much BTC O’Leary bought or what price he paid for it.
O’Leary’s comments come as the stock market continues to experience volatility due to fears about the coronavirus. On Monday, the Dow Jones Industrial Average plunged more than 1,000 points amid concerns about the virus’ impact on global economic growth.
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Kevin O’Leary is a Canadian businessman, author and television personality. He is the co-founder of O’Leary Funds and SoftKey. He has appeared on numerous business shows, including Shark Tank, The Lang and O’Leary Exchange and SqueezePlay.
In an interview with CNBC, Kevin O’Leary, otherwise known as “Mr. Wonderful” from the television show Shark Tank, had a lot to say about Bitcoin. When asked if he would invest in Bitcoin, O’Leary said that he “wouldn’t touch it with a ten-foot pole.” He went on to say that Bitcoin is a ” speculative mania ” and that people are ” buying Bitcoin because they think they’re going to sell it to somebody else for more.”.
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