THE DAILY ENCRYPT

[date-today format='F j, Y']

Shark Tank Star Kevin O’Leary Says Bitcoin Will Rocket After STA is Passed by Congress

Shark Tank star Kevin O'Leary expects bitcoin's price to rise when the Stablecoin Transparency Act is passed, which he thinks could happen soon after the...
white concrete dome buildings
Photo by Darren Halstead

Shark Tank star Kevin O’Leary expects bitcoin’s price to rise when the Stablecoin Transparency Act is passed, which he thinks could happen soon after the November midterm election. O’Leary stressed that crypto cannot be stopped and stated: “You either join or get lost.”

Shark Tank star Kevin O’Leary shared his reasons why bitcoin should be long on Friday’s Crypto Banter Youtube channel.

Mr. Wonderful explained that the Stablecoin Transaction Act has a chance to be passed by the U.S. Congress. It will take effect after the midterm elections on Nov. 8. Shark Tank’s star explained:

The Act is simple and may pass. Both parties support it. The reason this is the case, however, is that the U.S. dollar becomes the default payment system globally.

He then explained why this Act would boost bitcoin’s price. O’Leary stated that even though the regulation has nothing to do with bitcoin, it will be the first to be passed by U.S regulators. He also said that he believes that bitcoin investors should be long to see that outcome. He said that institutional capital will be a big draw for stablecoins.

Related Articles:  BOE Doesn't Think DeFi Can Help Financial Risks

“If institutions smell policy then you have a real move-up and that’s when your trade range against the U.S. dollars is $19,000-22,000.” He elaborated: “I think you will get right through that very fast.”

The bottom line is that regulations are in place, and bitcoin continues to rise.

O’Leary said, “Here’s a question that every investor should think about.” There is a risk when investing in Bitcoin and other crypto. It’s possible to lose your investment.

As crypto becomes the 12th segment of the S&P within the next decade, some value in financial service stocks, such as banks, will transfer to these updated technologies. This isn’t always predictable. O’Leary has said that he believes crypto will become the 12th segment of the S&P within the next decade. Policy is what we are missing. He predicted that when policy is implemented and regulators are in place, capital will flood this sector like never before,” he said in August.

Related Articles:  Recent Filing Shows FTX Owes Over $3 billion to 50 of its Top Creditors

O’Leary stated, “My thesis is that you should have crypto in your portfolio since you don’t know when it’s about to happen and if you don’t have any exposure, you might miss out on the growth of this 12th section of the S&P which could be a disastrous outcome for performance.”

Kevin O’Leary: You can’t stop crypto and NFTs

O’Leary also spoke out on Linkedin about why he is so passionate about cryptocurrency, bitcoin, and non-fungible tokens (NFTs). Shark Tank star O’Leary wrote:

It’s impossible to stop it. You either ride the wave or you get lost.

Felipe Rodriguez

Felipe Rodriguez

Felipe states he has super powers, some argue that case but he does come up with some very clear predictions. Felipe is based in the US and frequently travels to Brazil where he was born. He is a journalist of the future and has a portfolio of crypto projects he has worked with. Felipe always says "The future doesn't scare me as much as the past, crypto is here to stay but only time will tell where it will take us".
Felipe Rodriguez

Felipe Rodriguez

Felipe states he has super powers, some argue that case but he does come up with some very clear predictions. Felipe is based in the US and frequently travels to Brazil where he was born. He is a journalist of the future and has a portfolio of crypto projects he has worked with. Felipe always says "The future doesn't scare me as much as the past, crypto is here to stay but only time will tell where it will take us".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Latest News
PRESS RELEASES