Kevin O’Leary is bullish on decentralized finance, as he leds a $20-million fundraising for a DeFi venture in Canada, Markets Insider reported.
- In a podcast, the popular investor said DeFi is what interests him most right now, and “it’s where the puck is going.”
- O’Leary’s interest in DeFi is driven by its capacity to wrap up crypto assets into Ethereum chains for profit, while crypto investments are not capable of capital storage.
- O’Leary said he found experts for Canadian startup DeFi Ventures, which seeks to make some 4% to 6% gains for millions of investors.
- The businessman will rename the venture into WonderFi, in line to his nickname Mr. Wonderful.
- “It is going to be my vehicle and I think it’s just the beginning of some great things to come,” he said.
- O’Leary has also upped his DeFi investments, following the volatility hounding Bitcoin, but said that recent environmental concerns did not keep him from going long on the coin.