Kevin O'Leary Slams Bitcoin ETF Fees, Prefers Direct Ownership, but Welcomes Regulatory Progress
Jan 14, 2024
“Shark Tank" star Kevin O'Leary expressed his reluctance to buy a bitcoin ETF, emphasising that paying fees for such investments is "completely unnecessary" for long-term bitcoin holders like himself, as he already owns the cryptocurrency. While O'Leary questioned the sustainability of all 11 approved bitcoin ETFs, he expects two or three to emerge as prominent players in the market, with firms like Fidelity and BlackRock potentially leading the way due to their substantial sales forces. Despite his personal reservations, he acknowledged that the ETFs' regulatory approval represents a significant step forward for the crypto industry and hopes it will encourage lawmakers to explore digital payment systems like USDC. O'Leary also shared his belief that bitcoin could triple in price by 2030, reaching $150,000 to $250,000, although he disagreed with Cathie Wood's more optimistic projection of $1.5 million by 2030, suggesting it would require an economic catastrophe to achieve such a price point.