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Kevin O'Leary: "After the adoption of stablecoins regulation, Bitcoin will grow"

Kevin O'Leary | Shark Tank host

Shark Tank host Kevin O'Leary expects the BTC rate to rise after the adoption of the law on the regulation of stablecoins, which, in his opinion, will happen after the November midterm elections to the US Congress. 

Kevin O'Leary, also known under the pseudonym Mr. Wonderful, believes that with a high degree of probability, the Law on Transparency of stablecoins can be adopted by the US Congress after November 8. This law is supported by the majority of legislators, since it makes the US dollar a payment currency worldwide by default. 

Despite the fact that this does not affect Bitcoin, this will be the first law passed by US regulators regarding crypto assets. Institutional investors will show great interest in stablecoins and will pour their capital into them. Therefore, I would say that many will want to buy Bitcoin now for long-term storage in order to wait for this result. Cryptocurrencies cannot be stopped. You either join the wave or you get lost in it..

O'Leary said

He added that large investors will feel more confident knowing about the regulation of stablecoins. This gives Bitcoin a chance to get out of the $19,000-$20,000 price range. O'Leary acknowledged that the risks of investing in Bitcoin and other cryptocurrencies always remain. But there is a risk that a person may miss his chance by refusing to invest in Bitcoin. The TV presenter is confident that in the next decade cryptocurrencies will become the 12th sector of the S&P 500 index, as many banks and financial technology providers will already use the latest technologies by that time.

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