Published April 22, 2026, 12:58 p.m. EDT
O’Leary called most alternative coins “coins” that lack staying power as institutions reshape the market. Kevin O’Leary is refine your crypto strategy after years of experimentation in the digital asset space, arguing that most tokens have failed to justify their place in wallets as institutional money reshapes the market.
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Shark Tank star Kevin O’Leary as a judge on Shark Tank. (Christophe Willard/Disney/Getty Images)
O’Leary Ventures President Kevin O’Leary joined FOX Business’ Stuart Varney on “Varney & Co.” to explain why he has consolidated his holdings in what he considers to be the two dominant cryptocurrencies that drive returns and market activity.
O’Leary said his previous approach included exposure to dozens of smaller tokens, but a change in regulatory expectations and institutional analysis last year forced a reevaluation. As major players conducted deeper research, he argued, the conclusion became clear: Most alternative coins lacked staying power.
“I was one of the components… I was in 27 different positions… All you need to have is Bitcoin and Ethereumand you have 97% of the volatility of all other coins,” O’Leary said.
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He added that thousands of smaller cryptocurrencies effectively disappeared after last October’s economic downturn, reinforcing his decision to exit these positions.
“What happened to the cubs was that they collapsed last October… Thousands of them never came back… In the end, why don’t you own these two?” he said.
Despite continued volatility, O’Leary highlighted the growing adoption of digital payment systems and stable coins in global transactions as a key factor behind its continued conviction in the field.
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