Kevin O’Leary shared his current situation and position of the crypto industry and noted that ban-like proposals (fears) are no more a threat to cryptocurrencies.
Kevin O’Leary is a popular Businessman and star of Shark Tank. For the last few years, Kevin has been active in the crypto industry. He remains active to analyse and figure out the perfect crypto project and crypto assets to invest in. Usually, he believes in better analysis himself instead to follow hype or rumours about the old and new crypto projects and new ideas, which can bring a new revolution or new trend in the crypto industry but he is confident with Bitcoin as a long-term investment.
On 25 March, In speaking with Bitcoin news, Kevin said that ban-like things are no more part of any threat to the Crypto assets because these crypto-assets now hold economic promises.
“There’s no chance that we’re going to be banning Bitcoin or anything else that holds economic promise in terms of developing new technologies for financial services and payment systems.”
In response to this statement of Kevin, Roy Niederhoffer, the founder of R. G. Niederhoffer Capital Management, claimed that Kevin may be wrong.
Roy took the matter of Gold, when it was banned to own by the common citizens in the history of the US, and claimed that there are equal chances for Bitcoin or other private Cryptocurrencies to get banned.
“There’s a chance that Bitcoin could be banned. The private ownership of gold was banned in many countries, including the United States. However, were that to happen, it would be such an environment of chaos and hyperinflation that Bitcoin would be worth even more money at that point. If they’re going to ban it, it’s going to be the time when you want to load up on Bitcoin.”
However, in the end, both experts agreed with collaborative thinking that the crypto industry will go through a more enhanced regulation and also will move toward better growth under the better regulation framework.
“(Once)we get this regulation in place, the institutions (will be) pouring trillions of dollars. Those that have been speculators will benefit from the fact that these will get indexed and that will be a great upside.”
In the latest interview discussion, Kevin indirectly noted the cryptocurrency potential because of the recent Convoy freedom campaign in Canada and also Russia Vs Ukraine war. However he didn’t talked about these matters but he concluded that cryptocurrencies are moving toward more maturity, where people have more trust with it as a better return.
Don’t miss a thing, sign up for our newsletter