• According to Shark Tank veteran Kevin O’Leary, investors are beginning to view bitcoin as a digital asset

  • Kevin O’Leary, a billionaire investor and Shark Tank veteran, believes investors are warming up to Bitcoin as a digital asset.

    In an interview with Bitcoin bull Anthony Pompliano on the Best Business Show, O’Leary claims that big investors and institutions are treating Bitcoin more like prime real estate in Manhattan than a currency to trade.

    “Anytime someone says, ‘I know the Bitcoin price ceiling.’ They are completely unaware. It could take you anywhere… When I talk to institutions, I notice a shift in their thinking, let’s say about Bitcoin. Bitcoin used to be considered for many institutions that hadn’t yet owned it – those that were simply looking at it as a currency – but they’re no longer thinking that way. They’re considering it as a property.

    So you’d buy it in the same way you’d buy a triple-A office building in Manhattan. You purchase an allocation of [Bitcoin] that you are permitted to own. You never sell it. It is an asset that you own. You know it’s legal. It ticks all the boxes. You own it on your balance sheet, your providence, and it’s something you can own as property, and I believe that’s where we’re headed. Some percentage will continue to be traded. However, for the large institutions that are coming in, this is an asset class that is a property.”

    When asked about his personal portfolio, O’Leary says he owns Litecoin in addition to Bitcoin and Ethereum and plans to add a dozen new positions by the end of next month.

    “Bitcoin remains the big daddy. I only have three positions open right now, but by the end of next month, I’ll have nearly 15. I won’t say what they are, but for the time being, they are mostly Ether (ETH), a little Litecoin (LTC), Bitcoin (BTC), and a lot of USDC.”

    O’Leary stated in June that he believes Bitcoin will not see another wave of institutional adoption until it can address its issues with environmental, social, and corporate governance (ESG).

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