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Thursday, June 1, 2023

Kevin O’Leary: US lawmakers drafting a policy to open crypto markets to institutional investors

Kevin O’Leary, aka Mr. Wonderful, revealed that a group of lawmakers is working on a policy to open crypto markets to institutional investors. O’Leary said: “The good news is they are all over it and agree that once a policy is passed, there are tremendous opportunities.”

Cryptoregulation for institutional investors is being considered by U.S. senators
Kevin O’Leary disclosed in a series of tweets Thursday that he just had a bipartisan meeting with U.S. lawmakers about crypto regulation.

He tweeted:
Spent my day at the senate with a bi-partisan group of policy makers who get the joke on crypto. They are working on policy that will open these markets to institutional investors.

O’Leary added: “The good news is they are all over it and agree there is tremendous opportunity once they pass policy. Stay tuned, I left them feeling optimistic.”

The Shark Tank star also thanked Senator Cynthia Lummis for hosting the meeting. The pro-bitcoin senator from Wyoming replied to him via Twitter: “It was great to have you Kevin O’leary. What a turnout (bicameral and bipartisan). Big things [are] coming. Feeling bullish.”

Mr. Wonderful replied: “Senator Lummis is 100% right. Whoever heard of going to the Hill and having a bipartisan discussion. I thought I was dreaming.”

In a different tweet last week, O’Leary opined:
Bitcoin, Ethereum, Polygon, all these blockchains — it’s all software. The growth rate of these new innovations is phenomenal, and there’s capital coming in from all around the world.

O’Leary has been repeatedly saying that many institutional investors are waiting to invest in bitcoin and other cryptocurrencies.

A few months ago, he predicted that the price of bitcoin would “appreciate dramatically” in 2 to 3 years, when “institutions can finally buy it.” He added that “In the indexing business, despite the hype around bitcoin, none of those institutions own a single coin.” It won’t happen until their compliance departments allow for ESG mandates.”

In light of Kevin O’Leary’s comments and U.S. lawmakers working on a crypto policy aimed at institutional investors, how do you feel about it? Share your thoughts below.

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