Famed investor and Shark Tank star Kevin O’Leary addressed the Consensus Miami 2026 conference in Florida, emphasizing that Wall Street’s enthusiasm for digital asset tokenization remains muted. O’Leary pointed out that major financial players are steering clear of both Bitcoin and blockchain-based tokenization initiatives until there is clear, comprehensive regulation in place.
Regulatory clarity is crucial for institutional capital
During his remarks, O’Leary highlighted the transformative role a thorough digital asset framework passed by the US Congress could play. He underlined that, for the financial world’s largest players, engaging with digital assets is still seen as too risky and ambiguous as long as legal uncertainties persist.
Tokenization, which involves creating blockchain-based digital versions of traditional assets such as stocks, bonds, and funds, is increasingly a topic of discussion. Advocates believe this technology could streamline transactions and reduce costs, setting the stage for a deep transformation within finance. However, O’Leary maintains that without regulatory certainty, heavyweight investors are hesitant to participate.
Development of stablecoins and new legislation
O’Leary cited the recent passage of the GENIUS Act in the US as an example of how quickly stablecoin innovations are spreading where regulation exists. He argued that such regulatory milestones are accelerating the transition of institutions towards blockchain-based assets. Specifically, he noted that stablecoins are already delivering advantages in speed and cost efficiency for cross-border payments, thanks to new guidelines.
Describing advances in stablecoin adoption, O’Leary explained that, “Instead of waiting three days, we can now complete transactions in just minutes, at much lower cost, with full compliance and transparency.”
He also observed that Bitcoin and Ethereum currently dominate the overall cryptocurrency market’s value, while smaller crypto assets have faced considerable challenges during recent market turbulence.
Institutional focus shifts to core assets
O’Leary said institutional investors have significantly narrowed their crypto focus, with approximately 97% of sector value now concentrated in just large-cap assets like Bitcoin and Ethereum. Meanwhile, demand for smaller, speculative tokens has dropped sharply.
Looking forward, O’Leary outlined that the biggest opportunity may lie in major corporations standardizing their infrastructure, leveraging blockchain platforms for logistics, contract management, and related fields.
According to O’Leary, the most valuable assets in the blockchain and artificial intelligence landscape could soon be infrastructure, energy, and data centers. He stressed that the underlying systems powering digital assets are gaining importance over the cryptocurrencies themselves.
O’Leary remarked, “Energy may soon become more valuable than Bitcoin itself,” signaling that infrastructure could overtake crypto assets in significance.
