Kevin O’Leary expects Bitcoin to rise

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  • BTC price at time of writing – $19,627.74
  • Bitcoin Will Rise When Stable Coins Transparency Law Passes
  • Stablecoin Transparency Act Could Pass US Congress After Nov. 8

Mr. Wonderful, Shark Tank star Kevin O’Leary, predicts that the Stablecoin Transparency Act, which he says will pass shortly after the midterm elections in November, will drive bitcoin prices higher. O’Leary made it clear that cryptocurrency cannot be stopped, saying: Either you go with the flow or you get lost.

On Friday, the chairman of O’Shares Investment Advisers, Shark Tank star Kevin O’Leary, advised investors to take a long position in bitcoin on YouTube channel Crypto Banter.

If institutions smack of politics, then you have real progress

Mr. Wonderful explained that the Stablecoin Transparency Act, the proposed legislation, has a chance of being passed by the United States Congress after the November 8 midterm elections.

The Shark Tank competitor explained that due to its simplicity, this law could pass. It is supported by both parties due to the fact that it effectively makes the US dollar the global default payment method.

He then explained the reasons why this law will increase the price of bitcoin. O’Leary pointed out that he would say you want to be long in bitcoin before this result.

This will be the first regulation adopted by US regulators, even though it has nothing to do with bitcoin. He added that stablecoins are going to see a lot of interest in institutional capital.

When you break out of the $19,000-$22,000 trading range against the US Dollar if the institutions sense politics, you have a real move up. He gave his opinion and made it clear that he thinks you will get through this very quickly.

As a result, as regulations are implemented, bitcoin prices increase. O’Leary went on to say that here is a question every investor should consider. Investing in bitcoin and all cryptocurrencies involves risk. Neglecting to invest comes with additional dangers.

He went on to say: Because some of the value of financial services stocks, like banks, will shift to these new technologies, and you usually don’t know when that will happen if crypto becomes the 12th sector in the S&P at course of the next decade. .

ALSO READ: Bitcoin’s Distributed Ledger Nears Half a Terabyte

You can’t stop crypto and NFTs – O’Leary

O’Leary said he expects crypto to become the S&P’s 12th largest sector. “What we lack is politics. In August, he predicted, capital taps will flood this sector like you’ve never seen” when we have policy and the regulator regulates.

On Linkedin this week, Kevin O’Leary also spoke about why he is strongly opposed to bitcoin, cryptocurrencies and non-fungible tokens (NFTs).

The Shark Tank star wrote:

Either you join the wave or you get lost, and you can’t stop it! What Mr. Wonderful pointed out, there are people who criticize me for this, but this is one of the reasons why he is so convinced of the future of crypto and NFTs.

You have no choice but to adopt any new technology that can significantly increase our level of productivity and improve the process of handling global transactions.

Latest posts by Ritika Sharma (see everything)

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