Shark Tank star Kevin O’Leary says that a massive wave of blue-chip capital could flood into the crypto asset space if proper conditions are met.
In a new interview with crypto influencer Anthony Pompliano, the venture capitalist says that billions of dollars worth of institutional capital could make its way to leading digital assets Bitcoin (BTC) and Ethereum, as well as ETH challenger Solana (SOL) and scaling solution Polygon (MATIC), if stablecoin regulations are set in place.
“If we can get some policy, even though it will require additional compliance costs, more disclosure [and] more transparency, it opens the floodgates of institutional capital that have been waiting to come into the crypto market.
Just in a payment system alone, let’s say four or five different stablecoins got licensed, it would be a phenomenal outcome because you would for the first time be able to get a one or two or three percent indexed allocation from sovereign funds running $500 to $900 billion…
I’m not the only person doing it, there’s lots of others, but we talk to these funds all the time and they say the same thing over and over again: give me some policy, show me I’m not offside with the SEC, and I’ll give you a one percent allocation, sometimes a three percent allocation. That goes for Bitcoin, that goes for Ethereum, Solana, Polygon [and] stablecoins.
Just give me a regulated position – that’s all they want.”
O’Leary also says that regulations could possibly bring about a $100,000 price tag for BTC.
If you want to see Bitcoin [at] $100,000, that’s how you’re going to do it. You’re going to get the sovereign wealth funds to allocate to it.”
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Source: https://dailyhodl.com/2022/07/11/institutional-capital-could-flood-bitcoin-ethereum-solana-and-polygon-under-this-condition-kevin-oleary/