Bitcoin (BTC)Crypto News

Shark Tank’s Kevin O’Leary Says One Factor Will Determine Bitcoin and Crypto Market Direction

Prominent Shark Tank investor Kevin O’Leary is reportedly saying that the policy will impact investments in the digital asset space, as he shares his optimism that US politicians will support crypto.
Benzinga reports that O’Leary expects the upcoming policy to be bullish on stablecoins as it will be bullish for both the US dollar and the crypto market.

“The reason both sides would support stablecoins is that it would make the US dollar the default currency around the world. When a stablecoinbacked by the U.S. dollar and Treasury bills would be regulated as a payment system,” this could attract the interest of “sovereign wealth funds and financial institutions.”

Because the price of Bitcoin (BTC) falls below $20,000, O’Leary also warns that the flagshipcryptocurrency likely to 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 corresponds to in November.

However, O’Leary believes that the US will soon implement its own crypto regulation and this will benefit companies like bitcoin miner Bitzero, in which he has invested.

“I’m encouraged that over the next 18 months we may have guidance, and I think this will be well reflected in the valuations of companies like Bitzero, particularly those that know how to provide ESG [Environmental Social and Governance] solution for large institutions.”

Featured Image: Shutterstock/jiang jie feng/Fotomay

Source: Crypto News Deutsch

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