Shark Tank star Kevin O’Leary believes a significant potential for Bitcoin (BTC) will emerge in the coming months.
In a new interview with Crypto Jebb, O’Leary stated that if Bitcoin receives completely compliant infrastructure at the sovereign fund level, the floodgates would open.
O’Leary thinks that Bitcoin has potential but is not yet in the portfolio of major investors.
“Big opportunity, mega opportunity for bitcoin, and why do I stay long and why do I continue to allocate to bitcoin, when we get the policy and institutions can allocate it – the sovereign wealth and pension institutions – they might. 50 basis points, which is half a cent in bitcoin, up to a cent, and that’s where you’re going to get out of this range. How high? Nobody knows because the demand is almost insatiable.”
“Most large institutions want a position in crypto and they want the granddaddy crypto. They want Bitcoin. They can’t buy it yet… I service the institutions and the sovereign funds with indexing, and they all tell me they want to index for Bitcoin but they can’t buy it. They don’t have any policy. They don’t have any compliance infrastructure. So we got to get this done.”
The well-known venture capitalist also stated that if laws for Bitcoin and stablecoins are implemented, a large amount of cash might pour into the crypto market.
Currently, BTC is trading at $23,352 and trying to break above the psychological $24,000 barrier.
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