Canadian Business "Shark" Kevin O’Leary Named Main Threat to Bitcoin on Its Path to $1M

• Kevin O’Leary named the condition for bitcoin to reach $1 million.
• Mr. Wonderful pointed to the quantum threat.
• In addition, he walked back his bet on Ethereum and shifted his focus to AI and energy.

Canadian entrepreneur, investor, and TV host Kevin O’Leary (Mr. Wonderful from Shark Tank) said bitcoin could reach $1 million if the crypto industry can address the potential threat posed by quantum computers. He said this in an interview with The Rollup during the Avalanche Summit in New York.

At the same time, O’Leary stressed that he has reconsidered his previous bet on Ethereum and is now investing in energy infrastructure that is expected to power AI’s growth.

O’Leary No Longer Bets on Ethereum

According to the investor, 18 months ago his strategy was to buy bitcoin and Ethereum, as he expected the industry to standardize around Ethereum. However, in his view, that scenario did not materialize.

“People aren’t happy. Who’s next? What other chain is going to get adopted?” O’Leary said.

He now believes that different industries may choose separate blockchains depending on their needs. The investor also said he no longer sees Ethereum as the obvious candidate to serve as the base infrastructure for tokenization.