O'Leary Sees $1 Million Bitcoin, But Only If Quantum Risk is Resolved

Crypto markets have seen a significant green day, with major assets up 5-7%. Bitcoin has reached $85.7k, and Ethereum is at $2,735.

Kevin O'Leary made headlines at the Avalanche Summit by wearing an $11 million Shohei Ohtani baseball card around his neck to make a point about tokenization. He used this opportunity to express his opinion that Bitcoin will reach $1 million, but only if the industry resolves the quantum risk.

O'Leary's condition for Bitcoin reaching $1 million is Q-Day, when a quantum computer could forge signatures securing every Bitcoin wallet. However, estimates suggest this might not happen until the early 2030s or never at all. O'Leary believes that large funds cap Bitcoin exposure near 3% due to this doubt.

In contrast to his previous stance on Ethereum, O'Leary now thinks it's not fast enough and not secure enough for widespread adoption. He predicts that industries will choose their own chain, and the first major exchange to adopt a blockchain for tokenization will see its token skyrocket.