Shark Tank’s Kevin O’leary doesn’t want to invest in Dogecoin, saying, “I don’t understand why anyone needs it.”

Shark Tank star Kevin O’leary, aka Mr. Wonderful, says he doesn’t see Dogecoin as an investment. “I don’t do things like that. I don’t understand why anyone would do that, ” he said.

Kevin O’leary doesn’t invest in Dogecoin
Shark Tank star Kevin O’leary spoke about the Dogecoin cryptocurrency-meme-in an interview with CNBC last week. ETFs chairman O’shares said::

I won’t do it. I don’t understand why someone is doing this, but it’s their choice.

He noted that investing in Dogecoin is like gambling in Las Vegas, and it’s not called “investing.”

The Shark Tank star explained that when someone invests in a stock, they bet on the company’s ability to execute its business plan and achieve its goals. In contrast, he said there was no informed decision-making with dogecoin as buyers simply hoped the price of the cryptocurrency would rise. Moreover, dogecoin has an unlimited supply unlike bitcoin.

O’leary said: “Maybe you should consider entertainment because it has no intrinsic value other than what other people want to do if they speculate.”There he is:

If you’re speculating on something like Dogecoin, it’s no different than traveling to Las Vegas and spending your money in red or black. It’s pure conjecture.

Do you agree with Kevin O’leary on dogecoin? Tell us in the comments below.

Join the Discussion

  • BrokerEUR/USD
    IG 0.6pips (fixed) margin: 3.33%
    InterTrader 0.6pips (fixed) margin: 3.33%
  • Back to top