Bitcoin Price Explosion Trigger Is Analyzed | CryptoGazette
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There are various optimistic predicitons about the price of Bitcoin these days, and the latest one will be addressed below. It’s about the element that could boost the king coin’s price.
It’s been revealed that Shark Tank star and billionaire investor Kevin O’Leary predicted that Bitcoin (BTC) would surge in value once regulatory clarity is in place.
Bitcoin could appreciate by several multiples
In a new Stansberry Research interview, O’Leary said that Bitcoin could appreciate by several multiples from the current price once institutional investors are allowed to purchase crypto assets.
“At some point in the next two to three years, the US regulator is going to rule on cryptocurrencies. And they will rule first on stablecoins and Bitcoin itself… And the very large assets by market cap.”
He continued and said:
“As soon as that happens, if I’m running a sovereign fund or a pension plan I’m going to allocate to it probably one to three percent. And I want to long Bitcoin when that happens.”
He also stated the following:
“You want to talk about Bitcoin going to $100,000, $200,000 $300,000, it’s going to be when institutions can finally buy it.”
According to the Shark Tank star, institutional investors need regulatory compliance and to meet Environmental, Social and Governance (ESG) standards before they can invest in Bitcoin.
“I can tell you with certainty right now because I service sovereign wealth funds and pension plans and in the indexing business. For all of the hype around Bitcoin, none of those institutions own a single coin.”
He also stated that institutional investors would be finding it very easy to buy BTC if it is categorized as software.
Regarding the price of Bitcoin today, at the moment of writing this article, BTC is trading in the red, and the coin is priced at $40,812. Stay tuned for more crypto news.
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