Shark Tank star Kevin O’Leary, aka Mr. Wonderful, expects bitcoin prices to rise when the Stablecoin Transparency Act passes, and that could be November midterm O’Leary believes it could be soon after the elections, emphasizing that crypto cannot be stopped, stating. “You either join the wave or get lost.”
Regulation is coming and Bitcoin is going up”
Shark Tank star Kevin O’Leary, chairman of O’Shares Investment Advisers, shared on the Crypto Banter Youtube channel on Friday why investors are long bitcoin.
Wonderful explained that there is a bill calledstabled coin transparency bill
that could be passed by the U.S. Congress after the midterm elections on November 8, he explained. The Shark Tank star explained that.
This legislation is essentially very simple why it could pass. It is supported by both parties, the reason being that the U.S. dollar will, in effect, become the default payment system around the world.
He went on to explain why the passage of this law would drive up the price of bitcoin. O’Leary emphasized, “Even though it has nothing to do with bitcoin, it will be the first regulation to be passed by U.S. regulators, and I would argue that we want to go long bitcoin towards that outcome.” He added, “There will be a lot of institutional capital going into stablecoin, and there will be a lot of interest.”
“When institutional investors smell policy, you have a real move and that is when you break out of the $19,000 to $22,000 trading range against the USD. I think you will go through that very quickly,” he opined, elaborating.
So, at the end of the day, regulation comes and bitcoin goes up.
“Here’s a question every investor should think about.” O’Leary continued.” There are risks in investing in Bitcoin and all crypto. There are also risks in not investing in it.”
He elaborated.” Because if it is true that crypto will become the 12th sector in S&the next 10 years. p over the next 10 years, some of the value of financial services stocks like banks will migrate to these new technologies, and you usually don’t know when that will happen.” And he elaborated.O’Leary remarked that he expects crypto to become the 12th sector in the S&. p. “What we lack is policy. When we get policy and regulators regulate … . the capital faucet will flood into the sector like you’ve never seen before,” he predicted in August.
“My thesis is that you should have some crypto in your portfolio if you don’t know when it will happen and you don’t have full exposure to it, you participate in the growth of the 12th sector of this s&you may miss out on participating in the growth of the twelfth sector of P, which is bad for performance,” O’Leary concluded.
Kevin O’Leary Says You Can’t Stop Crypto and NFTs
translated by YAYOI
O’Leary also discussed on Linkedin this week bitcoin, cryptocurrencies, non-fossil token tokens (NFTs) on Linkedin this week. The Shark Tank star wrote:
You can’t stop it, you either join the wave or get lost!
“Some people criticize me about this, but this is one of the reasons I feel so strongly about the future of crypto and NFT.” Mr. Wonderful emphasized.” When a new technology emerges that can dramatically increase our productivity levels and improve the way we process transactions globally, you have no choice but to get on board.”
Image Credit: Shutterstock, Pixabay, Wiki Commons
