Shark Tank star and billionaire investor Kevin O’Leary predicts that the value of Bitcoin (BTC) will rise once regulatory clarity is achieved.
In a recent Stansberry Research interview, O’Leary says that once institutional investors are allowed to buy crypto-assets, Bitcoin could appreciate several times the current price.
“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. 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. If you want to talk about Bitcoin going to $100,000, $200,000, $300,000, there will be time when these institutions can finally buy it.”
According to the Shark Tank star, institutional investors need regulatory compliance and meeting Environmental, Social and Governance (ESG) standards before investing in Bitcoin.
“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 will they invest until their compliance departments allow the asset class to be compliant. But when that happens, the price of the cryptocurrency will rise dramatically.”
O’Leary says institutional investors will find it easy to buy Bitcoin if it’s classified as software.
“If you think Bitcoin is software, which is it, and these institutions invest in Microsoft, Google. So it’s very easy for them to get their head around this subject in case of compatibility. 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.”
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