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Shark Tank star Kevin O\u2019Leary, aka Mr. Wonderful, says he does not consider dogecoin an investment. \u201cI don\u2019t participate in that kind of thing. I don\u2019t understand why anybody would,\u201d he said.<\/strong><\/p>\n

Kevin O\u2019Leary Won\u2019t Invest in Dogecoin<\/h2>\n

Shark Tank star Kevin O\u2019Leary talked about the meme cryptocurrency dogecoin in an interview with CNBC last week. The chairman of O\u2019Shares ETFs said:<\/p>\n

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I don\u2019t participate in that kind of thing. I don\u2019t understand why anybody would, but that\u2019s their own choice.<\/p>\n<\/blockquote>\n

He explained that investing in dogecoin is like gambling in Las Vegas, noting that he might not even call it \u201cinvesting\u201d at all.<\/p>\n

The Shark Tank star explained that when someone invests in a stock, they are betting on the company\u2019s ability to execute its business plan and achieve its goals. In contrast, he said that there is no informed decision making with dogecoin as buyers are simply hoping that the price of the cryptocurrency will increase. In addition, dogecoin has an unlimited supply, unlike bitcoin.<\/p>\n

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O\u2019Leary suggested: \u201cMaybe you should consider it entertainment because there\u2019s no inherent value in it other than what other people want to do as they speculate.\u201d He elaborated:<\/p>\n

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When you speculate on something like dogecoin, that\u2019s no different than going to Las Vegas and putting your money on red or black. It\u2019s pure speculation.<\/p>\n<\/blockquote>\n

Do you agree with Kevin O\u2019Leary about dogecoin? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div><\/div>\n