O'Leary Sees $1 Million Bitcoin, Sees Crypto as 'Digital Gold'
Kevin O'Leary, also known as 'Mr. Wonderful,' has expressed his optimism about Bitcoin's potential to reach $1 million in value.
In an interview at the Avalanche Summit New York, O'Leary said that he believes Bitcoin can hit this milestone provided it resolves its cybersecurity concerns and addresses the looming threat of quantum computing.
O'Leary acknowledged that the growing power of supercomputers could potentially break the algorithms and encryption used by Bitcoin, but he remains bullish on the cryptocurrency's future.
He also predicted that Bitcoin will account for 1-3% of alternative asset allocations as more investors treat it as 'digital gold.'
O'Leary cited the potential for crypto to become a platform for trading various assets as a key factor in its growth, and he believes that the first major stock exchange to link with a blockchain could send token values soaring.