Influential investor and media personality Kevin O’Leary anticipated regulatory clarity to be the key driver for the next phase of Bitcoin (CRYPTO: BTC) and cryptocurrency adoption.

‘Real’ Crypto Catalyst Awaited

O’Leary posted on X a clip from his Fox interview aired on Tuesday, in which he said that Bitcoin’s growth has stalled because the “real catalyst” for the next wave of cryptocurrency growth has yet to arrive.

“Large institutions, pension funds, and sovereign wealth funds are waiting for regulatory clarity before making meaningful allocations to Bitcoin and digital assets,” the "Shark Tank" star stated. “That's why I believe the next phase of crypto adoption will be driven less by speculation and more by legislation.”

The Use Case For Blockchains

O’Leary remained optimistic about the potential of blockchain technology to “transform” various sectors of the economy once a cryptocurrency framework is in place.

“When regulatory clarity arrives, one blockchain network could become the foundation for how businesses operate across every sector of the economy,” O'Leary, also known as "Mr Wonderful," stated.

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When Will ‘Clarity’ Come?

O'Leary has repeatedly stressed the urgency of passing cryptocurrency legislation. Last month, he warned that without the bill's passage, key crypto narratives will remain on the “fringes” for major institutional players.

The Clarity Act passed the Senate Banking Committee vote last month, marking a key milestone in establishing clear rules for the cryptocurrency industry in the U.S. The bill received bipartisan support, with some Democratic Senators breaking ranks to vote in favor.

Unlike January’s collapse, most cryptocurrency firms, including Coinbase Global Inc. (NASDAQ:COIN), now broadly support the bill after a compromise on stablecoin yields was reached.

The bill now heads to the Senate floor, where negotiators will work to merge the legislation with the Senate Agriculture Committee's version. After the Senate approves the bill, lawmakers must reconcile it with the House version before sending it to President Donald Trump’s desk.

Polymarket bettors assign a 49% possibility that the bill becomes law this year.

Price Action: At the time of writing, BTC was exchanging hands at $62,691.12, up 2% over the last 24 hours, according to data from Benzinga Pro.

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