Analyst names an event that will help bitcoin cross the $ 25,000 threshold

Shark Tank host Kevin O’Leary questions the ability of bitcoin (BTC) to rise above the $ 25,000 price level in the current environment.

O’Leary said in an interview with Stansberry Research that the price of bitcoin is stagnating because the lack of cryptocurrency regulation prevents institutional investments that will send the cryptocurrency «to the moon.»

«Cryptocurrency is still not a real asset class because it is not yet regulated. So, despite all the hype about it, no miracle will happen. Institutional players need a regulatory policy. Which I think will appear within a few years. People forget that 70% of the world’s wealth is tied up in pension and sovereign wealth funds. And so, if they are not allowed to buy this asset class, they will not be able to do so, which limits the possible growth of bitcoin and the cryptocurrency market as a whole,» O’Leary said.

Bitcoin is trading at $ 2020 at the time of writing, down almost 20% from its high this month of $ 25 200.