Kevin O’Leary, the Canadian businessman, politician, and TV personality has recently revealed that he is a major stakeholder in a new Defi company and predicted that institutional money will flow into Bitcoin. Once ESG standards are met, the flood will begin and will allow the institutional investors to get into the asset class. Kevin O’Leary Going all-in on DeFi Investing Company The Shark Tank star Kevin O’Leary recently spoke to the co-founder of Morgan Creek Digital, Anthony Pompliano, and said that Defi will be playing a key role in the future of the crypto industry. In addition to this, Kevin revealed that he is deeply interested in the crypto space. The recent revelations were made on May 24, in Pomp’s Bitcoin podcast and were picked up by the mainstream media highlighting that another investment heavyweight has turned to crypto assets. O’Leary intends to launch Defi Ventures, a Canadian startup and a firm that will be led by a $20 million fundraising round for the firm, which has yet to go live. Kevin mentioned that decentralized finance interests him the most and said: “There must be millions of people who have a little bit of coin who want to make some 4%, 5%, 6% on it.” Entrepreneur Predicts Rising Institutional Demand for Bitcoin The Shark Tank star laid emphasis on the fact that the institutional investors are still interested in Bitcoin regardless of the recent sell-off in the market. At present, less than 1% of the institutions globally invest in cryptocurrency at a faster pace and it is because they have got sustainability committees that screen investments and only allow ones that meet ESG standards. Explaining the compliance that the large institutions have with ESG Committees, he said: “We have covenants around how assets are made, whether carbon is burned, whether human rights are involved, whether it’s made in China. Institutions will not buy coins mined in China, coins mined using coal to burn for electricity, coins mined in countries with sanctions on them.”
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