Billionaire Kevin O’Leary has a striking vision for Bitcoin, projecting its value could skyrocket to $150,000-250,000 by 2030. This optimistic outlook contrasts his skepticism toward the newly approved US spot Bitcoin ETFs, which he criticizes for their high fees and limited investor value. While discussing with Fox Business, O’Leary emphasized the importance of direct Bitcoin investment over ETFs for those who view it as digital gold.
Despite his doubts about the ETFs, O’Leary acknowledges their approval as a significant milestone for the cryptocurrency industry. He anticipates that only a few of these ETFs will thrive, with major players like Fidelity and BlackRock likely leading due to their extensive resources. This scenario echoes predictions by Galaxy Digital’s Mike Novogratz.
O’Leary’s forecast, though bullish, remains cautious compared to Cathie Wood’s ambitious $1.5 million Bitcoin prediction. He believes such a high valuation would indicate underlying economic turmoil in the US. O’Leary’s perspective combines a realistic view of the current economic landscape with a hopeful outlook for Bitcoin’s future.