Institutions Reassess Crypto Exposure Amid Market Correction and Quantum Computing Concerns

Kevin O'Leary, a prominent investor and TV personality, has shared his thoughts on the current state of cryptocurrencies. According to him, the recent market correction in Bitcoin is part of a recurring pattern that has been seen before. This correction, which saw Bitcoin's value drop by 50%, is not unusual, as similar drawdowns have occurred in the past.

O'Leary noted that institutions are re-evaluating their crypto allocations due to the significant losses incurred during the downturn. He believes that Bitcoin and Ethereum remain the top choices for institutional investors due to their perceived lower risk and higher returns.

The Shark Tank star also highlighted the growing concern of quantum computing, which he believes could potentially break the chain and affect the security of cryptocurrencies. As a result, institutions are being cautious and capping their exposure to Bitcoin at around 3% until this issue is resolved.