Kevin O'Leary stated that Bitcoin could reach a price of $1 million, provided the industry addresses the threat of Q-Day. This term refers to the potential development of quantum computers capable of forging wallet signatures. Currently, no such technology exists, with arrival estimates ranging from the early 2030s to never.
According to O'Leary, concerns regarding quantum security lead major funds to limit their Bitcoin exposure to approximately 3%, treating the asset as a minor holding similar to gold. He suggests that if developers resolve these security doubts, institutional investment caps could increase significantly.
O'Leary also revised his stance on Ethereum. Eighteen months ago, he predicted that Bitcoin and Ethereum would capture 97% of the market upside. He now believes Ethereum lacks sufficient speed and security, arguing that industries will instead adopt specialized blockchains for tokenization.
The discussion follows the SEC's recent approval of an Innovation Exemption for tokenized stocks. Additionally, ICE is currently evaluating the Avalanche blockchain as a potential settlement layer for a new trading system being developed for the New York Stock Exchange.
