The famous American actor and crypto investor Kevin O’Leary highlighted the growing prominence of large investor groups in the cryptocurrency market, and suggested that the next price jump will come thanks to the Middle East. According to the protagonist of “Shark Tank”, the sovereign wealth funds of the region will transform the market.
Kevin O’Leary rose to fame for his role as “Mr. Wonderful” on “Shark Tank”
“The real opportunity is not in family offices or hedge funds that operate outside of the Middle East. The real money is in the real sovereign wealth funds both in Saudi Arabia and in the United Arab Emirates”, explained O’Leary in dialogue with Anthony Pompliano. And he added: “They are billions and billions and billions of dollars.”
Many of those funds have yet to “seriously” venture into digital assets, representing a unique opportunity for the ecosystem. “When that happens, you will see it reflected in the price of Bitcoin. No doubt about it. They have long-term visions in those funds, and the funds are very large,”he added.
The actor predicted that if Middle Eastern funds allocated just 1% of their capital to the crypto market, the impact would be “massive.” By following “diversifying” investment strategies, it is a highly probable alternative.
Finally, O’Leary confessed that he has been in contact with investors in the region and that his foray into the market is imminent. As he slipped, the cryptocurrency chosen to enter the digital ecosystem would be bitcoin (BTC) and the allocations would go from 1% to 3%.