Shark Tank Investor Kevin O'Leary: 'No Chance We're Going To Be Banning Bitcoin'

Shark Tank investor Kevin O’Leary believes that banning Bitcoin BTC/USD and other cryptocurrencies is no longer an existential threat.

What Happened: "There's no chance that we're going to be banning Bitcoin or anything else that holds economic promise in terms of developing new technologies for financial services and payment systems,” said O’Leary, in a recent interview with Kitco News.

"That's always been the hallmark of American entrepreneurship. We're not going to ban that."

According to the investor, the one thing that is “100% sure” is that cryptocurrencies will be regulated.

Once this regulation is in place, O’Leary sees institutional investors pouring trillions of dollars into the digital asset space. As a speculator, O’Leary expects to benefit from the fact that cryptocurrencies will be indexed.

Earlier this year, O’Leary revealed that he has allocated 20% of his portfolio to cryptocurrencies spread across 33 different positions in various cryptocurrencies.

The investor disclosed that he held more Ethereum ETH/USD than Bitcoin BTC/USD while also disclosing positions in Polygon MATIC/USD and Solana SOL/USD.

"If you own Microsoft Corporation MSFT, if you own Alphabet, Inc. GOOGL, why not own Bitcoin,” said O’Leary in a CNBC interview earlier this month.

Price Action: According to data from Benzinga Pro, BTC traded at $46,900, up 5.5% in the last 24 hours, early Monday.

O'Leary will be the keynote speaker at the inaugural Benzinga Psychedelics Capital Conference on April 19 in Miami Beach.

Kevin O'Leary. Benzinga file photo by Dustin Blitchok.