Shark Tank TV star Kevin O’Leary expects more “trillions of dollars” to pour into Bitcoin over the next few years. In an interview published yesterday (September 13) on CNBC’s Capital Connection, he also sees crypto becoming an institutional asset class.
Kevin O’Leary – aka Mr. Wonderful
“I’m optimistic about crypto,” O’Leary began, adding that he’s also optimistic about DeFi. Citing the US Securities and Exchange Commission, which opposes Coinbase’s loan product, he said:
“It’s an obstacle to developing a very interesting space quickly.”
“We want the regulator to actually make some decisions about cryptocurrencies because nobody in the financial services sector wants to be a daredevil in this emerging area. I don’t want to get into crypto when the regulator says it’s not okay. “
“I don’t want to be left out and I don’t want to be a nonconformist either.”
With particular reference to Bitcoin, O’Leary shared:
“If the regulator allows financial services companies to label it as an asset, put it in an exchange traded fund (ETF) in the US like you do in Canada and other countries. I think there will be more trillions of dollars in Bitcoin. Not yet, but it will definitely happen in the next few years. That’s why there is so much interest. “
Bitcoin is currently trading above the $ 45,000 region with a market cap of $ 849 billion.
O’Leary added that all institutional investors want to know “when and how” regulators will be into crypto and when they consider crypto an “institutional asset class”.
“We don’t know when, but it will certainly come. It won’t go away. “
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According to News.Bitcoin