Kevin O'Leary, the Shark Tank investor once known for dismissing Bitcoin, says he is buying new digital-asset positions again and expects the asset to peak near $150,000 as regulatory clarity develops. His broader thesis: Bitcoin could eventually claim 1% to 3% of institutional alternative-asset allocations, the same slice gold has long held.
Kevin O'Leary, the O'Leary Ventures chairman who once called Bitcoin worthless, told the Avalanche Summit in New York on September 18 that he is actively buying new digital-asset positions and expects Bitcoin to capture a meaningful slice of institutional portfolios.
A $750,000 ceiling, a $150,000 near-term target
A $750,000 price target now circulating in crypto circles marks the upper bound of where Bitcoin could land if institutions treat it the way they treat gold. O'Leary is more measured near term, however, and is projecting a peak of $150,000 as regulatory clarity takes shape. His wider thesis is that Bitcoin could eventually command 1% to 3% of alternative-asset allocations, a slice that would dwarf today's market cap if it plays out.
One exchange could pull the rest along
O'Leary pointed to a single inflection point: a major stock exchange adopting blockchain technology for settlement or trading infrastructure. That kind of institutional endorsement, he argued, would pull the rest of the financial industry along with it. He also noted growing CEO interest across multiple blockchain platforms, suggesting no single chain will win outright, though he still maintains that Bitcoin and Ethereum together account for roughly 97% of the digital-asset market's total value.
Regulation, not sentiment, sets the pace
O'Leary kept circling back to one constraint: regulation. He called regulatory clarity the single most important catalyst for unlocking large-scale institutional capital into crypto, pointing to the Senate's obstruction of the CLARITY Act as a setback, even as related tax legislation has made more encouraging progress. His 1% to 3% allocation thesis depends entirely on that bottleneck clearing.
Rather than loading up only on tokens, O'Leary said he is putting money into energy infrastructure and mining support services instead.
Source: Crypto Briefing
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