Shark Tank star Kevin O’Leary says a huge opportunity could arise for Bitcoin (BTC) in the coming months.
In a new interview with Crypto Jebb, O’Leary say the floodgates will open for Bitcoin if BTC gets enough compliance infrastructure at the state funds level.
“The big opportunity, the mega opportunity for Bitcoin, and why I stay long and why I keep allocating to Bitcoin is when we get policies and can assign institutions to them – sovereign wealth and pension institutions – they will probably put 50 basis points, that’s half a percent , up to one percent in Bitcoin, and that’s where you’re going to break out of this range. How high? Nobody knows because the demand is almost insatiable.
Most major institutions want a position in crypto and they want the grandpa crypto. They want Bitcoin. They can’t buy it yet… I help the institutions and the sovereign wealth funds with indexing, and they all tell me they want to index for Bitcoin, but they can’t buy it. They have no policy. They have no compliance infrastructure. So we have to get this done.”
The popular venture capitalist also says a huge amount of capital could flow into the crypto markets if policies are put in place for Bitcoin and stablecoins.
“In terms of price increases, I think it will be dramatic. You could have a gap [of] 10%, 15%, 20%, [or] 25% overnight because you got access to a new asset class for trillions of dollars. That doesn’t happen very often.”
O’Leary predicts that the policy for BTC could be introduced in the next six to 12 months.
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