Shark Tank celebrity investor Kevin O’Leary reportedly said the policies will affect investments in the digital asset space as he shares his optimism that US policymakers will support crypto.
Benzinga Report O’Leary expects the upcoming policies to be a positive for the stablecoin as it will be bullish for both the US dollar and the crypto market.
“The reason both sides support stablecoins is that it would make the US dollar the global default currency. If a stablecoin backed by US dollars and Treasury bills is regulated as a payment system,” it would encourage interest by ‘sovereign wealth funds and financial institutions’. can.”
With the price of Bitcoin (BTC) dipping below $20,000, O’Leary also warns that the flagship cryptocurrency is likely to remain under pressure unless clear crypto policies are implemented. BTC is currently trading at $18,448, down 70% from its November all-time high.
O’Leary believes the US will soon introduce its own crypto regulation, and that this will benefit companies like bitcoin miner BitZero, in which he has invested.
“I’m excited that, in the next 18 months, we can have policy, and I think it will reflect well in the valuation of companies like BitZero, especially those that know how to deliver an ESG. [Environmental Social and Governance] Solutions for large organizations.”
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