Kevin O’Leary’s Take on Bitcoin ETFs
During an interview with Fox Business, American billionaire Kevin O’Leary expressed his skepticism towards the recently approved Bitcoin Spot ETFs by the SEC in the United States.
In his opinion, these financial products do not add any value, especially due to the fees imposed by the ETF issuers. O’Leary, a Bitcoin purist, considers these fees unnecessary and prefers holding Bitcoin directly as a form of ‘digital gold’ in the long term.
“If you are a purist like me and hold Bitcoin as digital gold in the long term, I will never buy an ETF… Why should I pay these fees? They are completely useless and do not add any value.”
– Kevin O’Leary
O’Leary believes that only two or three out of the 11 approved Bitcoin ETFs by the SEC will survive. He shares the opinion of Mike Novogratz, CEO of Galaxy Digital, who predicts that major players like Fidelity and BlackRock will dominate the market with their strong sales forces.
However, O’Leary acknowledges that the approval of these ETFs represents a historic milestone for the cryptocurrency industry.
O’Leary’s Predictions on the Price of Bitcoin (BTC)
Looking ahead, Kevin O’Leary has predicted that the price of Bitcoin could triple, potentially reaching $150,000 to $250,000 by 2030.
This prediction, although optimistic, remains cautious compared to Cathie Wood’s projection of Bitcoin at $1.5 million by 2030.
O’Leary believes that such price levels would only be possible in the event of an economic disaster, emphasizing that if Bitcoin were to rapidly reach these heights, it would indicate underlying problems in the US economy.
