“Mr. Wonderful” Buys Bitcoin and Ethereum Dips
Shark Tank’s Kevin O’Leary, revealed to Business Insider he’s buying the BTC and ETH dips to add to his positions. He believes the recent downturn in the crypto markets is good for long-term holders and value buyers, and is himself doubling down on BTC, ETH and others.
“I’m not selling anything. Long term you just have to stomach it. You have to understand you’ll get volatility, and that some projects aren’t going to work,” he said.
O’Leary believes more crypto adoption will happen in America once regulators give more clarity. And when this happens, he believes, more retail allocations into crypto will occur. Further, with codified regulatory guidance, he believes large institutions will begin to move into BTC.
Right now, most institutions do not own a single coin. And according to O’Leary, many won’t until “their compliance departments allow for the ESG mandates to be ‘check the box on that’, and of course be compliant on the asset class itself.”
Once the industry gets clear regulations and mandates, the new allocations, he feels, could push Bitcoin to $300,000.
With BTC near $20,000, O’Leary sees the potential for 15X growth in the Bitcoin price; so, it’s no wonder he’s not only hodling, but buying the BTC dips.
Read the full Kevin O’Leary interview, HERE