Kevin O’Leary, aka Mr. Wonderful from the popular show, Shark Tank, says that he is not interested in investing in Ripple because of the ongoing case with the United States Securities and Exchange Commission (SEC).
The case has been going on for several years and has garnered the attention of many crypto supporters and speculators as well. He considers that investing in XRP is a “very bad idea” and has “no interest in being a crypto cowboy.”
In an interview with CNBC, the billionaire investor and chairman of O’shares ETF talked about Bitcoin, Ripple, and its lawsuit with the SEC. Kevin O’Leary insisted that he has “zero interest in investing in litigation against the SEC.” “That is a very bad idea,” he added.
Kevin O’Leary is not interested in Ripple
The SEC sued Ripple and its CEO Brad Garlinghouse and co-founder Chris Larsen for selling XRP tokens worth $1.3 billion, which it claims to be an unregistered security offering.
As per Kevin O’Leary, the real capital lies with the approval from regulators because they have the upper hand.
“I have no interest in being a crypto cowboy and getting anybody unhappy with me because … I have so many assets in the real world that I’ve invested in already that I have to be compliant.”
said Kevin O’Leary
The Shark Tank investor is known for his practical and safe-playing tactics. Recently, he declared that cryptocurrencies amount to 10% of his total portfolio and said that he expects trillions of dollars flowing in Bitcoin in the near future.
While Bitcoin is currently below the $56,000 zone and is trying to regain this level, this has been a marvelous and active year for cryptocurrencies.
Ripple’s CEO claimed in a recent statement that he sees “pretty good progress” in its lawsuit with the SEC. Even the CEO of Coinbase, the largest regulated cryptocurrency exchange in the United States, Brian Armstrong, said that the lawsuit is definitely going in favor of Ripple.
Contrary to Kevin’s believes, Ripple continues to gather support from countries due to its excellent performance. Recently, the Republic of Palau said that it would be partnering with XRP to release a stablecoin.