Kevin O’Leary says Bitcoin’s (CRYPTO: BTC) recent weakness has less to do with fading investor interest and more to do with regulatory uncertainty.

BTC Going “Nowhere” Until CLARITY Act

Appearing on Fox Business on June 10, the O’Leary Ventures chairman said Bitcoin’s decline from its all-time high near $120,000 to around $60,000 has disappointed many investors who expected ETFs and institutional adoption to drive prices higher.

“Bitcoin’s going nowhere until the CLARITY Act becomes law,” O’Leary said.

He added that sovereign wealth funds and institutions are not yet touching Bitcoin as it is not yet law. O’Leary predicts 1% to 3% allocation of sovereign wealth to… Read more on Benzinga