Shark Tank star Kevin O’Leary said investors only need to own Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) to capture 97% of crypto market volatility, dismissing thousands of altcoins that “collapsed last October and never came back.”

The Two-Coin Portfolio

O’Leary said he dumped all his altcoin holdings after the October 2025 crash and now holds only Bitcoin and Ethereum. 

“So what’s happened to the poo-poos is they collapsed last October, and all of them, thousands of them, never came back,” O’Leary said. “So I dumped all my coins, and I own those two.”

O’Leary cut his holdings from 27 cryptocurrencies down to just three: Bitcoin, Ethereum, and USDC (CRYPTO: USDC) stablecoin. As of April 2026, he holds 90% of his cryptocurrency portfolio in Bitcoin and Ethereum, with USDC making up the remainder.

The $150,000-$200,000 Bitcoin Call

O’Leary linked Bitcoin’s potential rise to progress on U.S. crypto legislation, particularly the proposed Digital Asset Market CLARITY Act. 

“It is worth more to tenants than Bitcoin until Bitcoin becomes a regulated security through the Clarity Act and gets up to $150,000—or maybe $200,000,” he said in an interview on Fox.

He suggested that once Bitcoin operates within a defined regulatory framework, it could attract broader institutional participation. 

O’Leary also highlighted Bitcoin’s role in monetizing unused energy, saying it captures value “where there’s no use for electricity any other way.”

The 19% Crypto Allocation

Overall, crypto-linked assets—including equity stakes in Coinbase (NASDAQ:COIN), Robinhood (NASDAQ:HOOD), and Canadian energy infrastructure firm Bitzero—represent approximately 19% of O’Leary’s full investment portfolio.

He has invested in Bitzero’s 26,000-acre land network, which he compares to real estate development for high-performance computing and Bitcoin mining infrastructure.

From FTX Spokesperson To Bitcoin Maximalist

O’Leary lost his entire FTX investment when the exchange collapsed in November 2022. 

He had received approximately $15 million as FTX’s paid spokesperson, with $10 million held in FTX wallets that went to zero.

“I lost millions as an investor in FTX and got ‘sandblasted’ as a paid spokesperson for the firm,” O’Leary said in December 2022.

The October 2025 crypto market crash proved to be a turning point in his portfolio strategy. 

Image: Shutterstock