The ‘Shark Tank’ Star Declares That ‘A Wall of Money’ Is Currently Waiting to Invest in Crypto

Kevin O’Leary, a Canadian investor, has said in an interview that a vast amount of institutional investment money is ready to come into cryptocurrency.

According to O’Leary, institutional money is waiting for regulatory clarification before investing in cryptocurrency. O’Leary discussed a new plan put out by Wyoming Senator Cynthia Lummis and New York Senator Kirsten Gillibrand during an interview with Michelle Makori, editor-in-chief of Kitco News, at the recent Bitcoin 2022 conference in Miami, Florida. The two lawmakers are urging the US government to establish a regulated framework for cryptocurrency.

According to The report, O’Leary stated: “I’m getting to the conclusion, based on comments from institutions at the [Bitcoin 2022] conference, that we will accept whatever restrictions. Provide us with anything. We’re going to assume since it’s nonpartisan and they’ve solicited advice from the industry, that we’ll end up with something practical.

“It may not be flawless, but as an investor, you care about Lummis’ success Is that institutional capital acts as a gigantic dam, a wall of money that is unable to invest at the moment. Thus, it is a faucet of billions of dollars worth of cash – not a single cent of which has been invested in crypto. Consider what would happen to asset prices if they began allocating? That is where the investment is made.”

O’Leary said that institutional capital was “practically non-existent” in the crypto markets at the moment and that the bulk of institutions was “not even in the game.” He added that the simplest way to get regulatory clarity would be to approve a Bitcoin ETF domiciled in the United States.

Also Read: DOGE pricing research indicates a 30% decline despite Elon Musk’s offer for Twitter