O’Leary claims that Bitcoin predictions have never been accurate, adding that “no one” was capable of accurately forecasting its volatility.The “Shark Tank” star predicts that Bitcoin will remain volatile. He compared it to Amazon’s performance over the last 15 years.
O’Leary has reiterated that the narrative about Bitcoin’s institutional adoption is not true since the U.S. Securities and Exchange Commission is yet to approve a Bitcoin exchange-traded fund. The ownership of Bitcoin by institutions remains minuscule because of their compliance departments. Bitcoin is down 37.65% on a year-to-date basis despite the fact that year-over-year inflation hit the highest level since 1981 in April. It is also down 57.88% from its record high.
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