Shark Tank’s Kevin O’Leary Labels Spot Bitcoin ETFs “Useless”; Here’s Why

Published by

Mustafa Mulla

January 12, 2024

Renowned Shark Tank judge and entrepreneur, Kevin O’Leary, known for his straightforward views on investments, recently raised doubts about the efficacy of Spot Bitcoin ETFs. In a candid interview, he labeled these investment tools as “practically useless” for institutional investors, sparking a fresh wave of discussions following the SEC’s recent approval of spot Bitcoin.

O’Leary’s skepticism revolves around the functionality of Spot Bitcoin ETFs, designed to track the real-time price of Bitcoin. While catering to retail investors, O’Leary questions their suitability for larger financial players.

The core query remains: are these instruments optimized for institutional success?

Cathie Wood’s Bold Bitcoin Forecast

Meanwhile, in a recent appearance on CNBC, Cathie Wood presented a bullish scenario for Bitcoin, envisioning a staggering price tag of $1,500,000 by 2030. However, this optimistic projection represents a significant upward adjustment from her earlier prediction of $1 million. Wood’s forecast has sparked discussions within the financial community, with some applauding her optimism while others, like Kevin O’Leary, expressing caution.

Kevin O’Leary emphasized his disagreement by pointing out that for Bitcoin to appreciate so rapidly, reaching such a high price, it would suggest a significant faltering of the U.S. economy.

O’Leary’s commentary introduces a thought-provoking perspective, implying a connection between Bitcoin’s soaring value and potential economic challenges. This viewpoint transforms the conversation, turning it into an economic analysis of the broader implications of Bitcoin’s unprecedented surge.

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Institutions in Focus

Beyond O’Leary’s individual perspective, his remarks invite a broader conversation on the diverse approaches institutions take when entering cryptocurrency investments. The unique characteristics of the crypto market, coupled with regulatory uncertainties and market volatility, pose intricate challenges for institutions.

Here’s Your Guide: Bitcoin Or Bitcoin ETF, Which is the Best Buy For 2024?

So, team O’Leary or team Wood? Where do you stand on Bitcoin’s future?

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.