Shark Tank investor Kevin O’Leary has said that the crypto market needs the support of policymakers to get out of its current rut.
In an interview with Circle CEO Jeremy Allaire, the investor stated that if there are regulations for stablecoins, Bitcoin will break out of its current range and trade higher.
According to him, if stablecoins should get the support of US policymakers, more institutional capital could come into crypto, pushing Bitcoin prices higher.
“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.”
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