Celebrity investor Kevin O’Leary (aka “Mr. Wonderful” on ABC TV series “Shark Tank“) recently predicted that a trillion dollars could flow into Bitcoin with the approval of an exchange-traded fund (ETF).
Speaking in an interview with CNBC, O’Leary said the U.S. Securities and Exchange Commission (SEC) approving a Bitcoin ETF could lead to “another trillion dollars” being invested in Bitcoin.
O’Leary also said most members of the financial services community, including himself, are hoping for the U.S. regulatory body to make a decision on cryptoassets. O’Leary, who has become a vocal member of the Bitcoin investment community, said he did not want to get involved in the industry of cryptoassets if regulators deem that it’s “not okay,” saying he couldn’t afford to be non-compliant.
As reported by The Daily Hodl, O’Leary said:
So I’m estimating – let’s just take Bitcoin, the granddaddy of all cryptos… If the regulator finally allowed financial services companies to call it an asset, put it into an ETF in the United States like they have in Canada and other countries, I figure there’d be another trillion dollars worth of buying into Bitcoin.
O’Leary predicted an ETF would be approved over the next couple of years given the growing interest in Bitcoin in digital assets.
The Shark Tank star has been a growing proponent of cryptoassets, telling Anthony Pompliano in a recent interview that he would likely expand his investment portfolio to include 7% crypto, in addition to being bullish on decentralized finance (DeFi).
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.