Shark Tanks Kevin OLeary Says Bitcoin (BTC) Wont Break $25,000 Until One Major Thing Happens

Shark Tank investor Kevin O’Leary questions the power of Bitcoin (Bitcoin) recovers above the $25,000 price level under prevailing conditions.

oleary To tell In an interview with Stansbury Research, he said that the lack of cryptocurrency regulation has hampered institutional investment in the sector, stating that the price of bitcoin has stagnated.

We want policy, especially ours working in financial services, because we think it unlocks the power of institutional interest in cryptocurrencies. You need a policy to

Until a decision is made, we expect cryptocurrencies, especially Bitcoin, to be locked between $20,000 and $25,000. I’m not going anywhere because I don’t have enough buyers. We need to take advantage of the trillions of dollars controlled by government wealth, and we won’t buy bitcoin until regulation is in place.

Bitcoin is trading at $20,210 at the time of writing, down nearly 20% from its monthly high of $25,200.

According to O’Leary, cryptocurrencies cannot be considered a bona fide asset class without a regulatory framework.

Crypto is not yet a real asset class because it is not regulated yet. That’s what I believe. And finally we get institutional participation.

People forget that 70% of the world’s wealth is tied up in pensions and sovereign wealth funds. So, if the asset class is not allowed to buy, there is no basic bidding.

This is one of the reasons why cryptocurrencies cannot exceed $24,000. “It’s very difficult because we don’t have a large following like Bitcoin or Ethereum that are still allowed to buy.”

Me

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