Kevin O’Leary explained that we have to wait for some regulatory clarity to see a big pump in Bitcoin.
Kevin O’Leary is a Shark tank star and he is a crypto-friendly wealthy person, who keeps researching different crypto assets and projects to invest money to get a better return on the investment. Overall we can say that Kevin remains dependent on his research instead of hypes.
On 17 February, Kevin O’Leary appeared in an interview with Stansberry Research. Kevin said that Bitcoin will surge multiple times with the regulatory approval for the financial institutions to buy Bitcoin.
Kevin said that in the future Bitcoin and stable coins will go under the full regulation of US regulators and also they will consider the regulation on high market cap crypto assets.
“At some point in the next two to three years, the US regulator is going to rule on cryptocurrencies. And they will rule first on stablecoins and Bitcoin itself.”
And when it will happen then surely it will result in a better positive push for the people to go with Bitcoin-like asset investment instead of going with investment all in pension bonds.
“if I’m running a sovereign fund or a pension plan I’m going to allocate to it probably one to three percent. And I want to long for Bitcoin when that happens.”
Kevin predicted that Bitcoin can go to easily $100,000, $200,000, $300,000 when this happens. According to Kevin, almost all the financial institutions needed huge clarity on the rules and regulations, which can provide a precise idea for them to go with the investment of Bitcoin.
Shark tank star noted that a huge hike in Bitcoin price will take place because of the institutional entry in this asset because right now no one financial institution is holding a single coin.
On the criticism of Bitcoin as software, Kevin said that financial institutions are holding software assets as Google and Microsoft, all these are also software.
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