The Crypto “Spigot” Is About To Spew Money, ‘Shark Tank' investor Kevin O'Leary Predicts

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Vast volumes of capital will pour into the crypto markets once US regulation opens the “spigot” and lets the money gush out. 

That’s the prediction from 'Shark Tank star Kevin O'Leary, who delivered a keynote speech at the Bitcoin Miami conference. 

"There are billions of dollars out there waiting for policy," he said.

"What we're missing is policy. When we get a policy, and the regulator regulates, that's not a negative thing," he continued. 

"The spigots of capital are going to flood into this sector like you've never seen. So for those of us that can invest in it now — you're getting ahead of what's going to be a huge wave of interest when policy occurs."

The investor, whose nickname is (apparently) “Mr. Wonderful”, set out “five vectors” of policy that will “give you an update on where we're at on this stuff."

One vector is a “Big Daddy bill” co-led by Senator Cynthia Lummis called The Responsible Financial Innovation Act, which will clarify the definition of a crypto broker and set up a digital asset taxation framework. 

Another vector is President Biden’s crypto executive order. 

"The president himself in his direct order, his executive order, talked about crypto as something that he wouldn't make illegal, that was the most important message in there," Mr. Wonderful added. 

Senator Bill Hagerty's Stablecoin Transparency Act was also mentioned, with O'Leary predicting that a stablecoin backed by the US dollar “will become the reserve currency of the Earth”. 

“That's what will happen, and why would we want to give that up to any other country? Why would we ever give up that innovation?" O'Leary added.

Blackrock’s “Larry Fink mandate” was another vector. In a letter to investors, CEO Fink said BlackRock was ”studying digital currencies, stablecoins and the underlying technologies to understand how they can help us serve our clients”.

The other vector was green crypto. “The next generation of bitcoin miners are starting to work with energy that does not require carbon: hydroelectricity, nuclear, wind and solar,” O’Leary said. “This is the future of bitcoin mining. We will be developing power for all communities in an ethical manner that we can power communities.”

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