December 8, 2022


Popular Shark Tank investor Kevin O’Leary has reportedly said that policies will affect investments in the digital asset space, as he shares his optimism that US policymakers will support cryptocurrencies.

Benzinga Reports O’Leary expects upcoming policies to have a positive attitude towards stablecoins as this will be bullish for both the US dollar and the cryptocurrency market.

“The reason why both sides support stablecoins is that it will make the US dollar the virtual currency globally. If a stablecoin backed by the US dollar and Treasuries is organized as a payment system, then this could stimulate interest by “sovereign wealth funds and financial institutions.”

With the price of Bitcoin (BTC) dropping below $20,000, O’Leary also warns that the major cryptocurrency will likely remain under pressure unless clear crypto policies are put in place. BTC is currently trading at $18,448, down more than 70% from its all-time high in November.

O’Leary believes though that the US will soon roll out its own crypto regulations and this will benefit companies like Bitzero, the Bitcoin miner, who has invested in it.

“I am encouraged that over the next 18 months we may have a policy, and I think that will be well reflected in the reviews of companies like Bitzero, especially those that know how to provide ESG [Environmental Social and Governance] solution for large enterprises.

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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should perform their due diligence before making any high-risk investments in bitcoin, cryptocurrencies, or digital assets. Please be aware that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrency or digital assets, and The Daily Hodl is not an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.

Featured Image: Shutterstock / jiang jie feng / Fotomay





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