Shark Tank star bullish on Stablecoins
Kevin O’Leary shared his thoughts on crypto and about his portfolio to increase in crypto-assets and stablecoins.
Kevin O’Leary is a Shark tank celebrity. Earlier he was known as a Bitcoin supporter and proponent but now he is a crypto proponent. He is currently active in crypto to search for better projects to invest money and also he is doing his non-crypto business successfully.
On 30th December, Kevin appeared in an interview with Cointelegraph. In the interview, Kevin shared many types of facts related to himself. Kevin also explained how inflation may lower the strength of buyers over year by year.
Right now, Kevin has a total of 10% portfolio in Crypto only. He is much focused on the stablecoins pegged by the US dollar. Kevin believes that Stablecoins is a better Hedge against increasing inflation. He revealed that a person can easily get 6% returns on Stablecoins stake.
Kevin said:
“When inflation is 6%, your buying power 12 months from now is 6% less. And that’s a lot (..) I’m a huge advocate for solving this problem with stablecoin.”
This statement of Kevin indicates that Kevin wants to go with all Stablecoins based Investments but unfortunately he is not able to do the same because regulatory restrictions are not allowing Kevin to convert his fiat money into stablecoins more than 5% of the wealth.
“With my compliance department, they’re considering stablecoins as an equity, no different than a stock,” Kevin said.
Kevin also confirmed that he shared his excitement of stablecoins stake with many institutional investors, which are working on it quietly in the background” and also waiting for regulatory approval for such a move.
In addition to the stablecoins interest, Shark tank star noted that institutional investors are eager with crypto assets also but due to very high volatility, it is not easy going for them.
Kevin added:
“You’re not going to get there to 20%, 30% in Bitcoin in an institutional or sovereign mandate, you’re just not. Stablecoins have that potential,” he explained”
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