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Celebrity investor Kevin O’Leary (aka “Mr. Wonderful” on ABC TV series “Shark Tank“) explained in a recent interview what needs to happen before we see the next bull cycle in the crypto market.
According to a report by The Daily Hodl published earlier today, his comments were made during an interview with Circle CEO Jeremy Allaire that was released yesterday (when Bitcoin was trading around the $20K level).
The Shark Tank star said:
“I also believe that the one thing – just getting stablecoins [regulations] done… It’s the lowest-hanging fruit, but it would also signal to the rest of the crypto market, primarily the institutional investor market... I actually think, and this is speculation, that if you got this thing done with just stablecoins, and you got it regulated, it would increase the value of a lot of different positions that I have including Bitcoin.
“Because they would make the assumption because we are stuck in a $17,000 – $22,000 range on Bitcoin and we will never get out of that if we don’t get institutional support. It’s just going to sit there forever.“
On August 4, O’Leary told “Crypto Jeb” why he continues to invest in Bitcoin:
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