Crypto bull and Shark Tank investor Kevin O’Leary says there’s one opportunity in digital currencies that outshines the rest.
The venture capitalist tells his 895,000 subscribers that payment systems present the biggest possible opportunity in the space, but that regulation needs to pass before it can be seized.
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“Payment systems are the biggest opportunity we have in the case of digital currencies, this is why regulation is so important. That’s just the truth.
The innovation that digital currency breeds is going to take us into a much more transparent, auditable, and less expensive way of processing payments around the world!”
O’Leary also says that a wave of digitization is coming to every single sector and that no matter what one does, a new digital economy is emerging at the forefront of the global financial landscape.
The billionaire has been applauding the recent efforts of US Senators Cynthia Lummis and Kirsten Gillibrand to bring sweeping regulatory clarity to the crypto industry.
He says that anyone who doesn’t see the need for more legislative policy in crypto is crazy as he believes institutional capital will never allocate to the asset class until proper regulations are set in place.
I want there to be policy. I’m not a crypto cowboy, I’m compliant. I want to bring sovereign wealth and pension funds into this so prices appreciate and stabilize. For all the excitement about crypto, we’re only $1.2 trillion and that’s a nothing burger. Nothing! $800 billion, who cares? That may sound like a lot of money, it’s nothing in the context of what it could be, if we can get this worked out.”
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