Kevin O'Leary, the 'Shark' of Canadian Business, Names the Main Threat to Bitcoin on Its Path to $1 Million

• Kevin O'Leary outlined the condition for Bitcoin to reach $1 million.
• Mr. Wonderful pointed to the quantum threat.
• Additionally, he has shifted his focus from Ethereum to AI and energy.

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

THE KEVIN O'LEARY INTERVIEW.@kevinolearytv @robbieklages @andyyy

Timestamps:
00:00 Intro
00:41 Kevin Wears $11M Ohtani Card
02:27 Tokenization Becomes The 12th S\u0026P Sector
03:09 Kevin Was Wrong About ETH
05:30 One Exchange Will Win
07:18 Kevin Buys Uranium In His Portfolio... pic.twitter.com/xU0MhCvE68
--- The Rollup (@therollupco) September 17, 2026

At the same time, O'Leary emphasized that he has revised his previous bet on Ethereum and is now investing in energy infrastructure that is expected to support the development of AI.

O'Leary No Longer Bets on Ethereum

According to the investor, 18 months ago, his strategy was to buy Bitcoin and Ethereum, as he anticipated the standardization of the industry around Ethereum. However, he believes that this scenario has not materialized.

<People are dissatisfied. Who's next? What other blockchain will be accepted?> --- O'Leary said.

He now believes that different industries may choose specific blockchains based on their own needs. The investor also stated that he no longer considers Ethereum an obvious candidate for the role of foundational infrastructure for tokenization.

<I no longer think it will be Ethereum. I don't think it's fast enough. I don't think it's secure enough. That's my opinion, my own opinion>, he noted.

O'Leary links the prospects of blockchains to the development of tokenization of traditional assets. He described digital assets as a separate infrastructure sector that can serve all 11 sectors of the S\u0026P 500 index.

In his view, the blockchain that is first chosen by a major stock exchange for tokenization could see significant demand for its token due to the use of the network for further operations.

Betting on Energy for AI and the Risk of Q-Day

Regarding artificial intelligence, O'Leary stated that he does not want to guess which model will become the market leader. Instead, he is investing in the infrastructure necessary for AI systems to operate.

<You can't do AI without energy>, the investor said.

Among his investments are BitZero, a former Bitcoin miner that has transformed into an energy company, as well as private energy projects in Canada and the USA. Additionally, O'Leary has opened a position in uranium for the first time in his investment career.

According to him, the development of small modular nuclear reactors could create additional demand for uranium to power data centers.

, he explained.

Separately, O'Leary commented on the future value of the first cryptocurrency. He linked the potential rise to $1 million with solving the issue of quantum computers, which could theoretically break the cryptographic algorithms that protect the network in the future.

<It [the price] will reach that if it can overcome the doubts that arise around quantum computing, you know, regarding the breaking of algorithms, chains, and encryption>, O'Leary stated.

This refers to the so-called Q-Day — the moment when a quantum computer gains sufficient power to break public key cryptography. Currently, such systems do not exist, and estimates of the potential timelines for the emergence of the necessary technologies vary significantly — from the early 2030s to scenarios where such an attack may not become practically feasible at all.

O'Leary also noted that some investors are already looking at companies developing quantum technologies as a potential hedge against this risk.

Regarding U.S. crypto regulation, the investor stated that he does not expect the CLARITY Act to be passed before the midterm elections in the U.S. In his opinion, after the elections, the bill may be reconsidered on a bipartisan basis.

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