Kevin O’Leary, a well-known entrepreneur known as Mr. Wonderful on ABC’s Shark Tank, has predicted that following the introduction of Bitcoin(BTC) regulation by the governments around the world, “a trillion dollars will come into this market overnight.”
A year ago, O’Leary issued a similar statement wherein he claimed that trillions of dollars would pour into Bitcoin(BTC) after Bitcoin(BTC) miners are able to solve the environmental, social, and corporate governance (ESG) issues. He recently evolved his position on Bitcoin(BTC) mining, asserting that it can help with clean energy investments.
As per a report from Business Insider, O’Leary hinted that once nations around the world bring Bitcoin(BTC) regulation, institutions will be able to take advantage of Bitcoin(BTC) investing and payment systems seamlessly.
Mr. Wonderful Thinks Countries Might Follow Canada’s Lead
O’Leary recently spoke with the Bankless Podcast, where he gave an example of OSC (Ontario Securities Commission), which “granted the very first crypto alternate license connected to a seller dealer.” He added that this action from the Canadian authority would force other nations to act on Bitcoin(BTC) regulation as well.
He believes that once Bitcoin(BTC) regulation is adopted across various nations, “an enormous quantity of demand might come into the market” which will cause a decrease in the volatility of Bitcoin(BTC).
“I’m speaking about bringing the actual cash into crypto, the actual sovereign wealth,” O’Leary continued. “It’s the trillion dollars that’ll come into this market in a single day when it is regulated.”