According to Shark Tank star Kevin O’Leary, Bitcoin (BTC) will skyrocket, but there are developments that must occur for that to happen. The key improvement expected is regulatory clarity. Shark Tank star and billionaire investor Kevin O’Leary predicts that the value of Bitcoin (BTC) will rise once regulatory clarity is achieved. Details of the subject are on Kriptokoin.com.
Bitcoin is waiting for it to skyrocket
In a new interview, O’Leary said in a recent interview that institutional investors are allowed to buy crypto assets several times the current price of Bitcoin. He says it can gain value. Here’s what the investor says on the matter:
At some point in the next two to three years, the US regulator will dominate cryptocurrencies. And they will dominate stablecoins and Bitcoin itself first… And very large assets by market cap. As soon as that happens, if I’m running a government fund or retirement plan, I’ll probably be putting aside between one and three percent. And when that happens, I want to long Bitcoin. If you want to talk about Bitcoin going to $100,000, $200,000, $300,000, that’s when institutions can finally buy it.
According to the Shark Tank star, institutional investors need regulatory compliance and meet Environmental, Social and Governance (ESG) standards before investing in Bitcoin. Billionaire says:
I can tell you with certainty right now because I serve government wealth funds, pension plans, and the indexing business. For all the hype around Bitcoin, none of these institutions have a single cryptocurrency. Nor won’t they do so until compliance departments allow ESG mandates to “tick the box on this matter” and of course be compliant in the asset class itself. But if they keep it up, the price of the coin will rise dramatically.
O’Leary says institutional investors will find it easy to buy Bitcoin if BTC is classified as software. Billionaire says:
If you think Bitcoin is software, which it is, and these institutions are owned by Microsoft, owned by Google. So it’s easy for them to get their head around this as soon as they’re compatible. They will buy one to three percent. And then the price will be appreciated. And I think that will happen in the next 2-3 years.
Bitcoin is trading at $40,271 at the time of writing.
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