Shark Tank’s Kevin O’Leary, called Mr. Wonderful, predicts that a “trillion dollars” will flood into bitcoin over the next few years. He also believes that cryptocurrency will become an institutional asset class. “We don’t know when it will happen, but it will happen. “It’s not going away,” he declared.
Kevin O’Leary Sees Trillion-Dollar Opportunity in Bitcoin Kevin O’Leary discussed bitcoin and cryptocurrency in a Monday appearance on CNBC’s Capital Connection.
O’Leary said, “I’m bullish on crypto,” adding that he is also bullish on decentralized finance (defi). In response to the Securities and Exchange Commission’s (SEC) opposition to Coinbase’s Lend product, he stated, “That’s a pause in what is really emerging as a very intriguing market.” Mr. Fantastic emphasized:
We want the regulator to actually make some decisions about crypto, because none of us that are in financial services want to actually be cowboys about this. I don’t want to get involved in crypto if the regulator says it’s not okay.
“I can’t afford to be late. I can’t afford to be disobedient,” he added. “If the regulator finally allowed financial services companies to call it an asset, put it into an ETF [exchange-traded fund] in the United States as they have in Canada and other countries, I’d figure there’d be another trillion dollars worth of buying into bitcoin,” the Shark Tank star said, referring to bitcoin in particular. And we don’t have it yet, but it’s an option.”
Mr. Wonderful went on to say: At the end of the day, I believe that will occur over the next few years. That is why there is such a high level of curiosity. According to Bitcoin.com Markets, the bitcoin market capitalization is $850.20 billion at the current BTC price.
O’Leary went on to say that all institutional investors want to know “when and how” regulators would get on board with cryptocurrency and when they will deem it an “institutional asset class.” He stated, “We don’t know when it will happen, but it will happen.” It will not go away.”
Mr. Wonderful also stated that he intends to grow his crypto holdings, saying: I intend to increase my crypto exposure, which is currently at 3%, to 7% by the end of the year.
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