Kevin O’Leary, the star of the reality television show Shark Tank, has recently changed his views about crypto. As a successful businessman and investor, he has earned the nickname Mr. Wonderful, and often has a sharp eye for new money-making opportunities. He was previously very critical of Bitcoin, saying it was “not a real currency” and referred to digital coins as “crypto crap.” He recently tweeted he will set aside 3% of his portfolio to Bitcoin and will possibly start investing in sustainable crypto mining.
Some suspect that O’Leary was influenced by Daniel Loeb, a well-known Wall Street figure and CEO of asset-management firm Third Point. Loeb is known for his expertise in traditional assets, though he has become increasingly focused on digital assets as well. He aims to research ways to connect crypto with traditional finance.
According to O’Leary, “Every operating company I’m an investor in is having their Daniel Loeb ‘moment’ regarding putting Bitcoin on their balance sheet.” He continued, “Changes in the regulatory environment have changed my mind about participating.”
Loeb appears to be a catalyst for many Wall Street investors who have recently become converts to Bitcoin and crypto in general. Many who were previously wary of potential risks associated with digital assets are finding increasing comfort with getting involved as other well-known leaders pave the way. The recent significant climb in crypto coin values continues to change perceptions and many are seeing crypto as the new gold.
These shifts follow a common trend throughout history. Any radically new and different idea, invention or movement is often met with skepticism and even antagonism at first. These common initial negative reactions are often projections of prior pain and loss that people have suffered in their own personal and professional experiences. When people live their lives primarily through the lens of fear, the world around them often appears scarier than it actually is.
Those who have lost money on prior opportunities that appeared promising or have heard about others’ losses can develop a certain shell-shock-like reflex to new situations that bear a slight resemblance. The reason why many people ultimately change their perspective from negative to positive, as many are currently doing with crypto, is because a shift has occurred that they can no longer dismiss.
Seeing consistent positive results is one driver of this change. FOMO, or Fear Of Missing Out, is another powerful force of change, since no one wants to be left out of the chance of a lifetime to potentially build transformational wealth. An even more significant and broader impetus for change comes from a shift in mindset. Instead of leading from fear, adopting an abundance-based mindset opens one’s thoughts to possibilities instead of closing one’s mind to the world.
At some point in everyone’s life, there were things that initially appeared to be risky and fear-inducing. Yet, when we took a brave step forward while feeling that fear, the courage and strength we developed opened us up to appreciate the value of that which we initially feared. As we mature through life and gain experience, we realize that opportunities need not be considered in all or nothing frameworks. We learn to manage and mitigate risk so we can be positioned for the greatest growth potential, while also protecting our well-being at the same time if things do not work out as planned.
This abundance mindset is very different from what many of us are taught in school as children. And yet, the most successful people in the world all adopted elements of this abundance mindset as part of their journey toward achieving breakthroughs. As society continues to evolve during these incredible times we are living in, more of the fear that has been previously widespread will likely melt away and greater abundance will continue to be revealed.
The shift away from antagonism and toward warmly embracing crypto has accelerated at a breakneck pace, especially in the past 12 months. And yet, it still represents just the beginning of the tremendous opportunities that lie ahead in the crypto space in general, and for META 1 Coin specifically. Since META 1 Coin stands for abundance and freedom, it is clear that any perceived crypto-related antagonism that exists today from mainstream media and others will also melt away ultimately as time passes and results speak for themselves.