Shark Tank star Kevin O’Leary, aka Mr. Wonderful, expects an “trillion dollars” more to flow into Bitcoin in the next few years. He also sees cryptocurrencies becoming an institutional asset class. “We don’t know when, but it will definitely come. It won’t go away, ”he said.
Kevin O’Leary sees trillion dollar opportunity in Bitcoin
Kevin O’Leary spoke about bitcoin and cryptocurrency in an interview published Monday on CNBC’s Capital Connection.
“I’m optimistic about crypto,” O’Leary began, adding that he’s also optimistic about decentralized (defi) funding. Citing the US Securities and Exchange Commission, which opposed Coinbase’s Lend product, he said, “This is a slowdown in what is really turning out to be very interesting.” Mr. Wonderful emphasized:
We want the regulator to actually make some decisions about crypto because none of us in the financial services industry want to be cowboys on that front. I don’t want to get involved in crypto when the regulator says it’s not okay.
“I can’t afford to stand apart. I can’t afford not to be compliant, ”he continued.
Regarding Bitcoin in particular, the Shark Tank star said, “When the regulator finally allows financial services companies to label them as assets, put them in an ETF [exchange-traded fund] in the United States, as they did in Canada and other countries, I would imagine that it would be worth another trillion dollars to shop in Bitcoin. And we haven’t got that yet, but this is the opportunity. “
Mr. Wonderful explained:
I think at the end of the day, in the next few years, that’s going to happen. That is why there is so much interest.
At the current BTC price, Bitcoin market capitalization is $ 850.20 billion based on data from Bitcoin.com Markets.
O’Leary added that all institutional investors want to know “when and how” regulators get on crypto side and when they view cryptocurrencies as an “institutional asset class”. He noted, “We don’t know when, but it will definitely come. It will not go away.”
What do you think of Kevin O’Leary’s comments on Bitcoin and Crypto? Let us know in the comments section below.
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