Celebrity investor Kevin O’Leary expressed that he wants to more than double his cryptocurrency stock by the end of 2021.
He predicted that trillions of dollars will be poured into the market if cryptocurrency becomes a new asset class.
The Shark Tank investor O’Leary had few days back considered bitcoin as garbage but later changed his stand about cryptocurrency.
O’Leary, who is chairman of O’Shares ETFs, expressed that he is bullish on cryptocurrency and now he wants to allocate more holdings in his personal portfolio.
“I want to raise my exposure to crypto — currently at 3% — to 7% by the end of the year,” O’Leary expressed on Monday.
But he also expressed that investors want to comply with decisions of USA authorities about regulating cryptocurrencies.
O’Leary said, “I don’t want to get involved in crypto if the regulator says it’s not okay. I can’t afford to be offside; I cannot afford to be non-compliant.”
The USA government is on the verge of developing regulations for cryptocurrencies, even though some countries are legalizing bitcoin. Just in previous week, El Salvador became the first nation in the world to adopt bitcoin cryptocurrency as legal tender.