Kevin O’Leary is putting money back into digital assets, positioning for what he describes as the next crypto market cycle while laying out an ambitious long-term price target that hinges on the industry’s ability to confront quantum computing risks.

Speaking at the Avalanche Summit in New York, the O’Leary Ventures chairman said he is actively building new positions after a period on the sidelines. “I’m back in the saddle buying new positions, putting my bets on for this next cycle,” he told The Block during the event.

The investor’s renewed enthusiasm comes with a specific structural thesis: the first major stock exchange to adopt blockchain technology would trigger a compliance cascade across the financial system. He described such a…