Shark Tank star Kevin O’Leary says a huge opportunity for Bitcoin (BTC) could start to materialize in the coming months.
In a new interview with Crypto Jebb, O’Leary says the floodgates will open for Bitcoin if BTC acquires sufficient compliance infrastructure at the level of sovereign funds.
“The big opportunity, the big opportunity for Bitcoin and the reason I stay long and why I continue to allocate to Bitcoin is when we get the policy and the institutions can allocate to it – sovereign wealth funds and pension institutions – they will probably put 50 basis points , which is half a percent, up to one percent in Bitcoin, and that’s where you’re going to get out of that range. How high? No one knows why the demand is almost insatiable.
Most large institutions want a position in crypto and want crypto grandfathered. They want Bitcoin. They can’t buy it yet… I service institutions and sovereign wealth funds with indexing, and they all tell me they want to index Bitcoin but they can’t buy it. They have no politics. They have no compliance infrastructure. So we have to do that.”
The popular entrepreneur also says that a huge amount of capital could flow into cryptocurrency markets if policies are put in place for Bitcoin and stablecoins.
“In terms of the price appreciation, I think it will be dramatic. You could have a gap up [of] 10%, 15%, 20%, [or] 25% overnight because you’ve opened access to trillions of dollars in a new asset class. That doesn’t happen very often.”
O’Leary predicts that the policies could take effect for BTC in the next six to 12 months.
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