O'Leary Dumps Altcoins for Energy Stocks as Crypto Fad

Kevin O'Leary, aka 'Mr. Wonderful', has sold all his altcoin positions, describing them as 'poo poo coins'. He believes Bitcoin, Ethereum, and USDC are the only crypto assets that still matter institutionally.

O'Leary's comments echo earlier this year when he said the crypto correction had cleared out the 'poo poo' coins. However, even these two assets are no longer his top bet; he now favors power infrastructure stocks.

The Shark Tank investor revealed that he has consolidated his portfolio into just three holdings: Bitcoin, Ethereum, and Circle's dollar-pegged stablecoin, USDC. His overall crypto portfolio weighting has dropped from a peak of 24% to 14%, partly due to price declines and partly from deliberate trimming.

O'Leary pointed to growing demand for power infrastructure from both the AI and Bitcoin industries, saying that owning power, land, and fiber is more important than whether customers are AI firms or Bitcoin miners. He specifically highlighted Bitzero (AIBZ) as his best crypto-adjacent investment, but AIBZ stock closed down over 3% on Friday.