Shark Tank Star shared his thoughts about the current market situation and explained how these things are good for any kind of crypto or another money market.
Kevin O’Leary is a popular TV show, Shark Tank, personality. Kevin is popularly known as “Mr. Wonderful” because he is a Canadian businessman, entrepreneur, author, and politician. In short, we can say that he owns combination of almost every type of quality. In 2019, Kevin was against Bitcoin because of legal challenges and accessibility but in 2021 he turned to a crypto lover during the bull run.
Recently Kevin appeared in an interview with CNBC. During the interview, Kevin explained that the downfall of crypto major companies is a better thing.
Shark Tank star explained that complicated situations of the crypto industry and the involvement of big crypto firms could be good for any financial market, which also includes the Securities market.
“I don’t care if you’re in equities or debt or crypto or real estate. You always need a big player to go to zero. That always helps whether it’s a long-term capital or whether it’s one of these crypto infrastructure companies.”
Kevin said that he doesn’t want to see such situations but it is a common thing and it provides a better bottom line where we can see opportunities.
Kevin further explained:
“If you have to sacrifice someone who used too much leverage, and it’s always leverage, somebody’s overleveraged. Positions are complicated. They’re not transparent. They’re not liquid, and they go to zero.”
Shark Tank Star said that the downfall in the crypto firms will remain on one side but those who will try their best to survive under the critical downfall situation then that will result in a game-changing moment.
Since late 2021 the crypto market has faced huge downfall. At present, the majority of the crypto assets are down by more than 80% over 12 months. Probably Kevin tried to direct the attention of crypto Investors toward a significant correction of the crypto market.