Kevin

Gary

<p>Kevin O’Leary, known as <a href="https://en.m.wikipedia.org/wiki/Kevin_O%27Leary" rel="noopener noreferrer nofollow" target="_blank">Mr. Wonderful</a> from Shark Tank and chairman of O’Leary Ventures, has shared insights into the potential impact of the U.S. Securities and Exchange Commission’s (SEC) decision on spot bitcoin exchange-traded funds (ETFs) and its influence on institutional interest in the cryptocurrency market.</p>
<h2 class="wp-block-heading" id="kevin-o-leary-makes-bold-crypto-prediction">Kevin O’Leary makes bold crypto prediction</h2>
<p>Kevin O’Leary is optimistic about the continued high institutional interest in crypto and bitcoin, irrespective of the SEC’s decision on spot bitcoin ETFs. He emphasizes that even if the SEC decides against approving such ETFs, the long-term potential of cryptocurrencies remains unaffected. In a recent post on the social media platform X, O’Leary highlighted the market’s anticipation of the SEC’s approval of the first bitcoin ETF before January 10th. However, he pointed out that SEC Chairman Gary Gensler has not provided a confirmed timetable for this approval.</p>
<p>Despite this uncertainty, O’Leary maintains that even if the decision is negative, it won’t significantly alter the overall potential and trajectory of cryptocurrencies. During an interview on Tradertv Live on December 29, O’Leary expressed doubt about Gensler approving a spot bitcoin ETF, suggesting that Gensler’s mandate might extend for another 18 months. However, O’Leary remains steadfast in his belief that the SEC’s decision won’t dampen institutional investor demand for crypto. He sees substantial developments within the crypto space that will continue to attract institutional interest.</p>
<h2 class="wp-block-heading" id="o-leary-s-perspective-on-institutional-adoption">O’Leary’s perspective on institutional adoption</h2>
<p>Kevin O’Leary identifies a key obstacle for institutional investors, particularly sovereign wealth funds, which is the hesitation to allocate a portion of their traditional portfolios (1% to 3%) to Bitcoin and Ethereum. These institutions seem to be waiting for regulatory approval before fully entering the cryptocurrency market. In November of the previous year, O’Leary disclosed that all the institutions and major organizations he had conversations with were ready to invest in Bitcoin. He emphasized their lack of interest in the extensive array of tokens, highlighting Bitcoin’s proven liquidity and its recognition as a store of wealth.</p>
<p>Furthermore, O’Leary links the approval of a spot bitcoin ETF to the existence of an exchange fully compliant with the SEC. Expressing reservations about Coinbase, a major crypto exchange listed on Nasdaq, he cited ongoing legal conflicts with the SEC as a factor contributing to its lack of compliance. O’Leary also commented on the increasingly aggressive stance of U.S. crypto regulations, stating that many crypto tokens may be deemed worthless and eventually decline to zero. Kevin O’Leary anticipates that institutional interest in crypto and bitcoin will persist regardless of the SEC’s decision on spot bitcoin ETFs.</p>
<p>His cautious stance regarding the approval of such <a href="https://www.cryptopolitan.com/speculation-peaks-as-bitcoin-etf-approval/" data-type="post" data-id="438420" rel="noopener noreferrer nofollow">ETF</a>s aligns with concerns about regulatory challenges faced by major exchanges. O’Leary’s insights echo the broader sentiment that institutional adoption of cryptocurrencies is an ongoing trend, driven by factors beyond regulatory decisions. The evolving landscape of crypto markets and the recognition of Bitcoin as a valuable asset by institutions contribute to the sustained interest in this emerging asset class.</p>

Kevin O’Leary predicts increased crypto participation regardless of ETF verdict

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