Bitcoin News and Finance
Kevin O’Leary Anticipates Strong Institutional Interest in Crypto Regardless of Spot Bitcoin ETF Outcome Skip to main content

Kevin O’Leary Anticipates Strong Institutional Interest in Crypto Regardless of Spot Bitcoin ETF Outcome

Kevin O'Leary Expects High Institutional Interest in Crypto Irrespective of Spot Bitcoin ETF Approval

Shark Tank investor Kevin O’Leary, also known as Mr. Wonderful, has emphasized that institutional interest in crypto and bitcoin will remain high regardless of the U.S. Securities and Exchange Commission (SEC)’s decision on spot bitcoin exchange-traded funds (ETFs). “Even a no decision will not change the long-term potential,” he stressed.

Kevin O’Leary Discusses Impact of Spot Bitcoin ETFs on Institutional Demand for Crypto

Kevin O’Leary, the chairman of O’Leary Ventures, has weighed in on the potential impact of the U.S. Securities and Exchange Commission (SEC) approving spot bitcoin exchange-traded funds (ETFs) on institutional interest in crypto.

He shared on social media platform X Wednesday: “Bitcoin has a spectacular appreciation. Why? The anticipation of the SEC approving the first bitcoin ETF before Jan 10th. I’m not so sure. Gary Gensler at the SEC has never confirmed any timetable for a bitcoin ETF.” However, Mr. Wonderful noted:

Even a no decision will not change the long-term potential!

In an interview on Tradertv Live on Dec. 29, O’Leary clarified that he doesn’t expect the SEC to approve a spot bitcoin ETF. “I’m in the camp that says he [Gensler] won’t do it,” he said, adding that the SEC chairman has “a mandate that’ll be for another 18 months.”

Nonetheless, Mr. Wonderful believes that the SEC’s decision on spot bitcoin ETFs will not affect institutional investor demand for crypto. He opined:

Even if he says no, I don’t think it’s going to change the momentum of what’s occurring here, because really big things happen to change institutional interest to the upside in crypto.

“The big holdback on bitcoin and ethereum, the granddaddies of crypto, has been the fact that institutions, particularly sovereign wealth, have not allocated their traditional 1% to 3% to that asset class. Well, they are waiting for the regulator to approve it,” Mr. Wonderful detailed.

In November last year, O’Leary revealed that “all” of the institutions and major organizations that he had talked to are prepared to invest in bitcoin. “They aren’t interested in the 10,000 token story,” he said, adding: “Bitcoin is proving itself to be liquid enough, it’s proving itself to be a storage of wealth, most people consider it a commodity.”

The Shark Tank star also said at the time that a spot bitcoin ETF approval hinges on the existence of an exchange that’s fully compliant with the SEC. To him, Coinbase, the Nasdaq-listed crypto exchange, lacks compliance due to its ongoing legal conflict with the securities regulator. Moreover, O’Leary previously said that crypto regulations in the U.S. are getting “very aggressive.” He believes that most crypto tokens are worthless and will eventually go to zero.

Do you agree with Kevin O’Leary? Let us know in the comments section below.

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory