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Home ยป Investment Guru Kevin O’Leary: I Will Never Buy Bitcoin ETF, 80% of BTC Issuers Likely to Fail
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Investment Guru Kevin O’Leary: I Will Never Buy Bitcoin ETF, 80% of BTC Issuers Likely to Fail

Jan. 15, 20243 Mins Read
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Investment Guru Kevin O'Leary: I Will Never Buy Bitcoin ETF, 80% of BTC Issuers Likely to Fail
Investment Guru Kevin O'Leary: I Will Never Buy Bitcoin ETF, 80% of BTC Issuers Likely to Fail
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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, has 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 ETFs on the 11th, and it is expected to be a major catalyst for mainstream investment in Bitcoin.

However, Kevin O’Leary, who gained fame through his appearance on the reality show “Shark Tank,” has stated that he will “never buy” a Bitcoin ETF because he already holds Bitcoin and does not want to pay additional fees. He stated on Fox Business on the 12th that only spot ETFs offered by BlackRock and Fidelity can “survive in the long term.”

At the same time, he believes that the chances for all 11 Bitcoin spot ETFs approved by the SEC last week to “survive” are slim. He predicts that only 2-3 will survive, and they will be offered by asset management giants such as BlackRock and Fidelity.

Although O’Leary personally has doubts about investing in Bitcoin ETFs, he expressed his support for the SEC’s decision to allow the listing of Bitcoin spot ETFs. He believes that the launch of spot ETFs is a significant step towards promoting the development of the cryptocurrency industry, and he hopes this will reinvigorate congressional consideration of digital payment systems, such as the US dollar-linked stablecoin USDC.

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 equivalent to a 3-5 times increase from the current price of $42,350.

He pointed out that Cathie Wood, the CEO of Ark Investment Management and known as the “female stock guru,” predicts that the launch of spot ETFs will drive Bitcoin to $1.5 million, but this will only happen in the event of an economic crisis in the United States.

Related Reports
Why did Bitcoin plummet after the ETF approval? Bloomberg analyst: Massive outflow of funds from Grayscale GBTC and high management fees forced profit-taking.
SEC Chairman mocks spot ETFs: Violates Satoshi Nakamoto’s decentralized vision for Bitcoin.
World’s largest index fund, Vanguard, rejects Bitcoin spot ETF, prompting a community-wide withdrawal of funds.
Trading strategies after ETF approval: Analysts suggest profit-taking as Bitcoin shows signs of a top.

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