The ‘Shark Tank’ investor is a firm believer in the future of blockchain and cryptocurrency.
Kevin O’Leary is convinced that Bitcoin’s value will only increase in the future. He believes that once the world begins to use Bitcoin for every transaction, the cryptocurrency will reach a valuation of one million USD. This potential increase in value is what Kevin believes will attract more investors. Once Bitcoin is widely used, the investment potential will increase, attracting more investors.
Kevin O’Leary, aka Mr. Wonderful, predicted that trillions of dollars will flow into cryptocurrencies, particularly bitcoin. Furthermore, he said that bitcoin mining would “save the world.”
With trillions in market cap, the crypto market will see a “spigot” of capital from institutional investors like never before.
During Thursday’s Bitcoin 2022 conference, Shark Tank star Kevin O’Leary delivered a keynote speech.
As a result of his experience in the indexing business, “massive pools of capital, these trillion-dollar pools” are awaiting for policy. Crypto is owned by zero or very few of them. “It’s primarily for high-net-worth individuals, hedge funds, and retail investors,” he explained.
Mr. Wonderful detailed:
The problem is a lack of policy. Getting policy and having the regulator regulate is not a negative thing. This sector is going to see a flood of capital like you’ve never seen before.
“So for those of us that can invest in it now, you are going to get ahead of what’s going to be a huge wave of interest when policy occurs,” he added.
O’Leary continued:
I predict in the next 10 years that crypto, blockchain, bitcoin — all of this innovation — will be the 12th sector of the S&P.
Crypto Will Save The World
“Bitcoin mining is going to save the world,” said the Shark Tank star.
“Why does bitcoin mining benefit the Earth?” he asked. Since bitcoin miners of the next generation are beginning to use non-carbon-based energy sources, such as hydroelectricity, nuclear power, wind, and solar power.”
Mr. Wonderful continued: “The drive to produce bitcoin has such economic value that they are willing to fund the next generation of machines. “Ninety percent of the dams built in the last century considered hydroelectricity but did not install turbines.”
“I’ll install the turbines!” he declared. But why? The Shark Tank star noted that “it provides for communities, it provides extra power,” noting that “I can use that and not worry about a carbon audit.”
Bitcoin mining will become more efficient with this.
He explained that hydroelectricity would be used to create power for all communities while mining coins with an ethical and green mandate.
Legal Framework for Cryptocurrency
O’Leary further said: “The beautiful strategy here is when we get policy … When we make bitcoin an allocation for institutions, which they do not have yet, what I predict will happen: they will put between 50 basis points to 300 basis points into their portfolios.” He concluded:
How much money is that? Trillions of dollars. So if you want to see bitcoin appreciate in value, if you are an advocate like I am … You want regulation … and you stand back and watch the capital pour into this.
Via this site.
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
