Trillions of Dollars Kevin OLeary Reveals Massive Bitcoin Price Prediction and Crypto Plan

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Bitcoin and cryptocurrency price predictions have multiplied and swiftly in recent months with Tesla bull TSLA Cathie Wood making a big call this week.

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However, the rise in bitcoin prices that catapulted the world’s largest cryptocurrency to a value of over $ 1,000 billion has come to a halt in recent months, with the price of bitcoin slipping below $ 50,000 and giving bitcoin has a market capitalization of around $ 900 billion.

Now famous investor and Shark Tank star Kevin OLeary has said he expects “another trillion dollars in bitcoin purchases” and plans to increase his crypto exposure to 7% d ‘by the end of 2021, compared to 3% currently.

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MORE FROM FORBESNew data reveals Bitcoin could approach sudden price shock after $ 300 billion crypto crashBy Billy Bambrough

Shark Tank investor Kevin O’Leary said he expects a lot more money to flow into bitcoin and … [+] cryptocurrency even after the price of bitcoin has exploded this year.

John Nacion / STAR MAX / IPx

“It’s not going to go away, it’s the new asset class,” OLeary told CNBC this week, predicting that there will be “trillions of dollars in interest pending membership” in crypto -coins with “another trillion dollars [bitcoin] buy “when regulators finally name bitcoin and crypto an institutional asset class.

However, OLeary warned that while he expects regulators to recognize cryptocurrencies as an institutional asset class, he is not sure when that will happen.

“I don’t want to get involved in crypto if the regulator says it’s wrong,” said OLeary. “I can’t afford to be offside, I can’t afford to be non-compliant.”

This week, the chairman of the United States Securities and Exchange Commission (SEC), Gary Gensler, called for more resources to better manage the nascent crypto industry and the markets he compares to the “Wild West.” after suggesting that the regulator does not protect investors.

But OLeary is confident that he will invest more money in bitcoin and crypto. “I want to increase my exposure to cryptocurrency to 3% to 7% by the end of the year,” he added.

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OVER $ 500,000 IN FORBES in Five Years – Elon Musk and Tesla Devotee Cathie Wood Reveal Huge Price Predictions for Bitcoin and EthereumBy Billy Bambrough

OLeary, who declared as late as 2019 that bitcoin was “garbage” and worthless, “joins Mark Cuban, another Shark Tank investor, in changing the tone on bitcoin and crypto the last year.

In August, Cuban warned that shutting down the “growth engine” of bitcoin and crypto would be like “shutting down e-commerce in 1995” after U.S. lawmakers proposed a crypto tax provision in his $ 1 trillion infrastructure bill.

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