Brian Kelly, founder and CEO of cryptocurrency investment company BKCM LLC admitted during an interview at the Crypto Finance Conference in Switzerland yesterday that he believes there is very little chance of a Bitcoin ETF approval happening this year, BTC Wires reports.
When asked on his thoughts of how cryptocurrencies will fare this year, Kelly stated “Probably in 2019 the focus will be on currencies — Bitcoin, Litecoin, some of those — because we have quite a bit of geopolitical tension in the world. We are starting to see some global macro players use Bitcoin as an alternative to their gold position, or as a way to hedge against fiat currency fluctuations and volatility.”
Kelly went on to say that 2019 will likely be the year in which mainstream investors start seeing Bitcoin as a legitimate asset. In August last year, Kelly predicted an ETF approval would likely happen in February 2019. Now, however, Kelly seems to have lost some optimism as he stated that there was 'no shot' of an ETF approval, adding that it will take over a year to resolve the current issues.
Kelly also warned of a financial crisis, stating that it would result in the mass adoption of cryptocurrencies.