Shark Tank star Kevin O’Leary says a massive 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 gets adequate compliance infrastructure at the sovereign fund level.
“The big opportunity, the mega opportunity for Bitcoin, and why I stay long and why I continue to allocate to Bitcoin is when we get policy and institutions can allocate to it – sovereign wealth and pension institutions – they’ll probably put 50 basis points, which is half one percent, up to one percent into 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 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 popular venture capitalist also says that a huge amount of capital could flow into the crypto markets if policies are set in place for Bitcoin and stablecoins.
“In terms of price appreciation, I believe it will be dramatic. You could have a gap up [of] 10%, 15%, 20%, [or] 25% overnight because you’ve opened up trillions of dollars worth of access to a new asset class. That doesn’t happen too often.”
O’Leary predicts that policies could get enacted for BTC in the next six to 12 months.
Featured Image: Shutterstock/BT Side