OLeary: Institutional Investors See Bitcoin As A Digital Property

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Renowned investor Kevin OLeary (aka Mr. Wonderful in the ABC Shark Tank TV series) recently said that institutions are starting to view Bitcoin and other crypto assets as digital property.

During an interview for episode # 25 of The Best Business Show, OLeary told Anthony Pomp Pompliano that institutions are starting to treat Bitcoin as real estate rather than a currency or tradable asset.

As reported by The Daily Hodl, OLeary said:

When I talk to institutions, there is a shift in philosophy in their thinking, let’s just say with Bitcoin. Bitcoin was once viewed by many institutions that didn’t own it, but those that simply viewed it as a currency no longer think of it that way. They see it as a property.

The Shark Tank star then compared buying Bitcoin to getting lucrative real estate in New York City. He said institutions buy BTC to keep it on their balance sheets as an asset, rather than trading it.

OLeary also admitted that few analysts can correctly predict the future of Bitcoin price, saying they have no idea where the cap will be. The seasoned investor said the price of Bitcoins can go anywhere, especially with the influence of institutions.

OLeary also commented on his personal crypto wallet, mentioning that he had positions in Litecoin and Ethereum in addition to Bitcoin:

Bitcoin is still the big daddy. Right now I only have three positions on, by the end of next month there will be almost 15. I won’t divulge what it is, but at the moment it’s mostly Ether (ETH), a bit of Litecoin (LTC), Bitcoin (BTC), and a ton of USDC.

OLeary had previously predicted that large-scale Bitcoin investments would halt until technology could strike a more sustainable balance between environmental and social influence. The Shark Tank star criticized Bitcoin mining in China, noting the negative impact on the environment and the massive consumption of electricity.

DISCLAIMER

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading crypto-assets carries a risk of financial loss.

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