Bitcoin to $760K? Kevin O’Leary’s Gold Theory Points to Mega Gains

Key Takeaways

Kevin O’Leary has started buying new crypto positions ahead of what he believes will be the market’s next cycle.
He said Bitcoin could eventually attract 1%–3% of institutional alternative-asset allocations, drawing a comparison with gold.
Forbes calculated that this scenario could imply a Bitcoin price of $253,000 to $760,000.

Kevin O’Leary is buying crypto again, but it is his comparison between Bitcoin and institutional gold allocations that has produced the biggest number.

The Shark Tank investor believes Bitcoin could eventually represent between 1% and 3% of the capital institutions allocate to alternative assets.

Forbes estimated that such a scenario could value Bitcoin between $253,000 and $760,000.

Try Our Recommended Crypto Exchanges

O’Leary Returns to the Crypto Market

O’Leary revealed his renewed interest during the Avalanche Summit in New York.

“I’m back in the saddle buying new positions, putting my bets on for this next cycle,” he told The Block.

He did not identify the assets he had purchased or disclose the value of his new positions.

O’Leary’s return to the market marks a dramatic reversal of his original position on crypto.

In 2019, he described Bitcoin as “garbage” and a “useless currency,” criticizing its volatility and limited usefulness for large transactions.

He later changed his position as governments introduced clearer rules.

O’Leary said the changing regulatory environment forced him to reconsider crypto as an investable asset class.

$760,000 Bitcoin?

O’Leary did not directly say Bitcoin would reach $760,000.

His prediction concerned the proportion of institutional alternative-asset allocations that could eventually flow into Bitcoin.

Forbes translated that range into two hypothetical valuations:

A lower scenario of around $253,000 per Bitcoin.
An upper scenario of around $760,000 per Bitcoin.

The upper estimate would give Bitcoin a market capitalization of roughly $15 trillion.

The lower figure would produce a valuation close to $5 trillion.

With Bitcoin recently trading near $80,000, reaching $253,000 would require an increase of approximately 216%.

A move to $760,000 would represent an advance of about 850%.

That would mean Bitcoin’s price would need to become nine times its current value to reach the top of the calculated range.

O’Leary Previously Targeted $200,000 Bitcoin

The $760,000 figure is considerably higher than O’Leary’s actual public forecast for Bitcoin.

In April, he said Bitcoin could rise to $150,000-$200,000 if the CLARITY Act established a clearer regulatory framework for the industry.

However, the Senate has since rejected the bill’s motion to proceed, removing the immediate catalyst behind that prediction.

Instead of attaching Bitcoin to the passage of one bill, O’Leary compared its potential place in institutional portfolios with gold.

Forbes then calculated that a 1%–3% share of institutional alternative-asset allocations could imply a Bitcoin price of approximately $253,000 to $760,000.

Is Kevin O’Leary Buying Bitcoin and Ethereum?

O’Leary did not reveal which assets he is purchasing for the next market cycle.

However, his earlier comments suggest he has become significantly more selective about crypto.

In an April interview with Fox Business, O’Leary said investors could capture approximately 97% of the crypto market’s volatility by holding Bitcoin and Ethereum.

He also said he had abandoned thousands of smaller altcoins after many failed to recover from the October 2025 market downturn.

O’Leary had previously spread his exposure across 27 crypto positions.

By April, he said he had reduced that portfolio primarily to BTC and Ethereum, alongside the USDC stablecoin.

Stock Exchange Adoption Could Decide the Winner

O’Leary believes the first major stock exchange to formally adopt blockchain infrastructure could provide a decisive signal.

He described that event as a “watershed moment” because banks and other companies connected to the exchange would need technology capable of meeting the same operational standards.

There are already signs of that shift.

Nasdaq announced earlier this month that its investment arm had agreed to invest $100 million in Kraken parent Payward.

The companies are working on Nasdaq Equity Tokens while preserving the rights of investors and issuers. The project is expected to launch in the second quarter of 2027.

The Securities and Exchange Commission has also introduced a temporary exemption designed to support certain forms of on-chain stock trading.

Top Picks for Bitcoin

Kevin O’Leary Is Buying Crypto Again — His Gold Theory Points to $760K Bitcoin