Kevin O’Leary, aka Mr. Wonderful, has revealed that a group of U.S. lawmakers is working on a policy to open crypto markets to institutional investors. “The good news is they are all over it and agree there is tremendous opportunity once they pass policy,” said O’Leary.
U.S. Senators Working on Crypto Regulation for Institutional Investors
Shark Tank star Kevin O’Leary revealed in a series of tweets Thursday that he just had a bipartisan meeting with a group of U.S. lawmakers to discuss crypto regulation.
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 saying repeatedly that many institutional investors are waiting to be able to invest in bitcoin and other cryptocurrencies.
In February, he said he expects the price of bitcoin to “appreciate dramatically” in two to three years “when institutions can finally buy it.” He explained that “In the indexing business, for all the hype around bitcoin, none of those institutions own a single coin. And they are not going to until their compliance departments allow for the ESG mandates.”
What do you think about Kevin O’Leary’s comments and U.S. lawmakers working on a crypto policy aimed at institutional investors? Let us know in the comments section below.