Shark Tank star Kevin O’Leary says that a huge opportunity for Bitcoin (BTC) could start to materialize in the coming months.
In a new interview with Crypto Jebb, O’Leary Say If Bitcoin gains sufficient compliance infrastructure at the sovereign fund level, the floodgates for Bitcoin will open.
“The huge opportunity in bitcoin, the huge opportunity, and why I hold it for the long haul and why I continue to allocate bitcoin is when we make policy and institutions can allocate to it – sovereign wealth and pension institutions – they may Put in 50 basis points, that’s 0.5% of Bitcoin, 1% max, and that’s where you’re going to break out of that range. How high? No one knows because the demand is almost insatiable.
Most large institutions want a place in the crypto space, and they want to grandfather crypto. They want bitcoin. They can’t buy it yet…I do indexing services for institutions and sovereign funds and they all tell me they want to index bitcoin, but they can’t. They don’t have any policy. They don’t have any compliance infrastructure. So we have to get this done. “
The popular venture capitalist also said that large amounts of money could flow into the crypto market if policies were instituted for bitcoin and stablecoins.
“In terms of price appreciation, I believe it will be dramatic. You can have a gap [of] 10%, 15%, 20%, [or] 25% overnight because you have unlocked trillions of dollars worth of new asset classes. This doesn’t happen often. “
O’Leary predicts that a policy for BTC could be set in the next 6 to 12 months.
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