Canadian businessman and television personality – Kevin O’Leary – sees bitcoin as a coin, currency and software. He believes that exposure to BTC is similar to holding positions in giant corporations such as Microsoft or Yahoo.
Furthermore, O’Leary predicted that BTC could rise to $300,000 if there is regulatory clarity in the industry.
bitcoin is like the big players
Many celebrities have changed their stance on bitcoin over the years, and Kevin O’Leary is among that group. Back in 2019, the host of Shark Tank said that the leading digital asset was “useless” for him. He went on to label it as “waste currency” and “garbage because you can’t go in and out of large amounts”.
In February 2021, he began to soften his approach, saying that he was not against it and even respected the property. Soon after, the Canadian became a BTC holder, allocating 3% of his portfolio.
Ever since he entered the ecosystem, Mr. Wonderful (as he is nicknamed) has praised the merits of cryptocurrencies. “I long,” he said last summer, adding that no other digital asset has the potential to replace BTC.
Recently, O’Leary once again took to Twitter to show his speed. In his view, holding bitcoin is equivalent to holding shares owned by multi-billion corporations Microsoft and Yahoo.
Bitcoin is not just a coin or currency, it is a software. Institutions like to criticize me for investing in bitcoin, but how I see it, if you hold large positions in companies like Microsoft or Yahoo, it’s all the same.
— Kevin O’Leary aka Mr. Wonderful (@kevinolearytv) February 20, 2022
Comparing bitcoin to the tech giant is nothing new. Last year, the founder of Skybridge Capital – Anthony Scaramucci – said that the asset reminded him of Facebook, Google and Amazon. Last week, Fidelity’s Director of Global Macro – Jurian Timmer – said that BTC’s growth looks similar to the rise of Apple in the 90s.
Bitcoin to Hit $300K?
In a separate interview for Stanberry Research, O’Leary predicted that the price of BTC could reach $300,000 in the next three years. This will happen as US watchdogs enact broad regulations in the cryptocurrency space thus enabling more institutions to jump on the bandwagon:
“Sometime in the next two to three years, the US regulator is going to make a statement about cryptocurrencies. Once that happens, if I have a state fund or a retirement plan, I’m probably going to allocate one to three percent to it. I am
And when that happens I want to go long on bitcoin. Bitcoin could go up to $300,000 when institutions can finally buy it.”
PrimeXBT Special Offer: Use this link to register and enter code POTATO50 to get up to $7,000 on your deposit.