Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has predicted that trillions of dollars will flow into cryptocurrencies, particularly bitcoin. In addition, he said bitcoin mining will “save the world.”
O’Leary Says ‘Capital Pigots’ Will Flood Crypto Like You’ve Never Seen It
Shark Tank star Kevin O’Leary gave a keynote speech at the Bitcoin 2022 conference on Thursday.
He said that based on his experience in the indexing business, “massive pools of capital, these trillion-dollar pools” are waiting for policy. They currently own zero or very little crypto. “It’s the purvey of high net worth individuals, hedge funds, and retail investors,” he clarified.
Mr. Wonderful detailed:
What we lack is politics. When we get a policy and the regulator regulates, that’s not a negative thing. Capital taps will flood this sector 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.
I predict in the next 10 years that crypto, blockchain, bitcoin – all that innovation – will be the 12th sector in the S&P.
‘Why Bitcoin Mining Is Going to Save the World’
The Shark Tank star also discussed “why bitcoin mining is going to save the world.”
He explained, “Why is bitcoin mining good for the Earth? Because the next generation of bitcoin miners… are starting to work with energy that doesn’t require carbon – hydro and nuclear, wind and solar.
Mr. Wonderful continued: “The drive to produce bitcoin is so economic in value that they will go ahead and fund the next generation of machines and turbines. 90% of dams built in America in the last hundred years contemplated hydroelectricity but never installed the turbines.”
He exclaimed, “I’m going to install the turbines. Why? Because it’s very economical if I can use it and not be hassled with a carbon audit. Noting that “it provides communities, it provides extra power,” the Shark Tank star said:
This is the future of bitcoin mining. We will be developing power for all communities while we mine coin in an ethical and 100% green mandate that we can do with hydroelectricity.
Regulation will help Bitcoin increase in value
O’Leary further stated, “The nice strategy here is when we get a policy… When we make bitcoin an allocation for institutions, which they don’t have yet, what I predict will happen: they will put between 50 basis points and 300 basis points in 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.
