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"Mr. Wonderful “- Shark-Tank-Star wants to invest up to 20% in crypto currencies

 


Kevin O'Leary believes that clear regulations can ensure that institutions invest large parts of their assets in stablecoins.


The successful investor and Shark Tank star Kevin O'Leary, also known by his nickname "Mr. Wonderful, ”says he would grow crypto investments in his portfolio up to 20% as soon as there are clearer legal regulations for stablecoins.


O'Leary, who has long been a heavy critic of Bitcoin ( BTC ), is now just as passionate about cryptocurrencies, which now make up more than 10% of his portfolio.


“Mr. Wonderful “as an effective hedge against inflation, because staking stablecoins alone could generate a return of up to 6%. In this regard, he explains in an interview with Cointelegraph:


“If inflation is 6%, then purchasing power has declined 6% in the last 12 months. That's a lot. [...] That's why I'm a big fan of stablecoins as a solution to this problem. "

A clear legal framework would allow O'Leary and other major investors to put large amounts of cash into stablecoins. At the moment, the prominent entrepreneur cannot invest more than 5% in the (value) stable crypto currencies because there is simply no legal basis.


“My own legal department evaluates stablecoins as equity, in other words just like a share,” he explains.


As O'Leary states, many institutional investors share his enthusiasm for stablecoins, which is why they "are already working quietly in the background" to make appropriate investments as soon as the legal green light comes.


In addition to stablecoins, Mr. Wonderful also invests in Bitcoin, Ether ( ETH ) and other cryptocurrencies. In view of the high volatility of the asset class, however, he believes it is unlikely that institutional investors will ever invest large parts of their portfolios in it.


“Institutionals will never invest 20-30% in Bitcoin, that will just never happen. Stablecoins, however, have this potential, ”said the expert.

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