The analyst said that the collapse of cryptocurrency companies will benefit many

Millionaire and Shark Tank co-host Kevin O’Leary advised not to be afraid of large companies going under during the crypto crisis, as their collapse will form a promising market bottom.

«The bankruptcy of large companies will benefit other firms, as they will learn from it and be able to continue to develop their business,» O’Leary said. According to the businessman, a market downturn is the beginning of a restructuring process. Therefore, it is normal to have to «sacrifice» large investors.

The millionaire’s investment portfolio reflects his enthusiasm: Kevin O’Leary holds 32 positions in the digital asset sector, including BTC, ETH, SOL, and a stake in Polygon. O’Leary also emphasized that he will continue to invest in bitcoin, ethereum, and Web3 projects.

However, not all investors share the millionaire’s position, given that the market situation is very unstable and risky. According to Grassnode analysts, the weekend of June 18−19 was one of the worst in the history of cryptocurrencies. This is due to the unusual volatility that pushed bitcoin’s price below $ 18,000. The losses of crypto investors exceeded $ 7 billion, with many of them losing their assets that they had previously purchased at several times the price.