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.
“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.