Kevin O’Leary, a celebrity investor who gained fame through his appearance on the reality show “Shark Tank” and was also a former spokesperson for FTX, publicly stated that he will never buy a Bitcoin ETF because he already holds Bitcoin and sees no need to pay additional fees for an ETF.
The U.S. Securities and Exchange Commission (SEC) officially approved 11 Bitcoin spot ETFs on the 11th, and the market expects this to be a major catalyst for mainstream Bitcoin investment.
However, Kevin O’Leary, the star investor who gained fame through his appearance on the reality show “Shark Tank,” expressed that he will “never buy” a Bitcoin ETF because he already holds Bitcoin and does not want to pay additional fees. He stated to Fox Business on the 12th that only spot ETFs launched by BlackRock and Fidelity can “survive in the long term.”
At the same time, he believes that the chances of all 11 Bitcoin spot ETFs approved by the SEC last week surviving are small. He predicts that only 2-3 will survive, and they will be launched by asset management giants such as BlackRock and Fidelity.
Although O’Leary personally has a skeptical attitude towards investing in Bitcoin ETFs, he stated that he welcomes the SEC’s approval of Bitcoin spot ETFs and believes that the launch of spot ETFs is a significant step in promoting the development of the cryptocurrency industry. He hopes that this will reinvigorate Congress to consider digital payment systems, such as the USDC stablecoin linked to the US dollar.
It is worth mentioning that O’Leary, who holds Bitcoin as digital gold, predicted in an interview with CoinDesk on the 13th that the price of BTC could reach $150,000 to $250,000 by 2030, which is 3-5 times the current price of $42,350.
He pointed out that Cathie Wood, the CEO of Ark Investment Management and known as the “female stock market guru,” has a prediction that spot ETFs will drive Bitcoin to $1.5 million. However, O’Leary believes that this will only happen in the event of an economic crisis in the United States.
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