A Celebrity investor Kevin O’Leary in a tv business show stated that institutional Investors are looking at Bitcoin from a different point of view instead of currency or tradeable asset.
On ABC TV series “Shark Tank”, Kevin O’Leary appeared in the show and shared his point of view on Bitcoin and the whole crypto space.
In the interview for episode #25 of The Best Business Show, Kevin said to Pompliano that in the present time institutional investors have totally different points of view on the crypto industry. Most of the institutions are considering the crypto market as a real estate market. He also said that these institutions are not looking at bitcoin as an asset to trade.
“When I talk to institutions, there’s a change in philosophy about their thinking, let’s just say with Bitcoin. Bitcoin used to be considered for many institutions that hadn’t owned it yet – the ones that were just looking at it as a currency – they’re not thinking that way anymore. They’re looking at it as a property”
Kevin O’Leary further added that Bitcoin is not an asset made for trade for the institutions, because institutions believe that Bitcoin is not for trade, it is for hold and they can make huge profit by holding it.
Kevin also talked about the price of Bitcoin. He indicated that the price of Bitcoin is unpredictable for now. According to him there are many experts who can predict the price of bitcoin. But there are institutional investors who can influence the price of Bitcoin at unpredictable ceilings.
At the end of the show, Kevin talked about his own portfolio and said that he is holding Litecoin and Ethereum along with Bitcoin. And also he thinks that Bitcoin is the daddy of the crypto market.
“Bitcoin is still the big daddy. Right now, I’ve only got three positions on, by the end of next month there’ll be almost 15. I won’t disclose what those are, but right now, it’s primarily Ether (ETH), a little Litecoin (LTC), Bitcoin (BTC), and a ton of USDC”