Shark Tank’s Kevin O’Leary shed light on the regulatory side of Bitcoin and other cryptocurrencies that helps explain why institutional money is now flowing into cryptocurrencies.
As western countries pass legislation concerning Bitcoin and other cryptocurrencies financial institutions can offer bitcoin and other cryptocurrencies to their customers or hold them on their books as assets.
Part of the problem with regulated financial institutions is knowing where the cryptocurrency is mined. Because of their fiduciary responsibility, the need to make sure they are not owning coins mined in China or any other place under sanctions by the U.S. or where human rights is an issue is a major concern.
With a little over 2 plus million bitcoins left to be mined, Mr. Wonderful has decided to invest in Bitcoin miners in countries that have passed regulatory decisions for Bitcoin and other cryptocurrencies.
Kevin’s relationship with the miners is he provides the needed capital to increase their operations to make mining more efficient and he gets part of what he calls the “Virgin Coins” mined.
He does this so that he does not get caught up and chastised for owning “dirty cryptocurrencies. Currently, Kevin’s Bitcoin holdings are in his own personal portfolio and not in any of the regulated financial institutions he is involved with to include O’Shares.
When asked what he thought the future would be like for Bitcoin and other cryptocurrencies, he said an individual needs to decide for him/herself what they think their holdings should be.
He thinks that Bitcoin will probably outperform the indexes and if you are going to own Bitcoin, hold on to it and let it do what it is going to do.
Kevin also owned his comments about Bitcoin that contributed to the F.U.D. (Fear, Uncertainty, and Doubt) institutional investors like himself have said over the years.
He admitted to owning Bitcoin since 2017, but because of his fiduciary responsibilities, he could not talk about it.
How many other institutional investors with a fiduciary responsibility like Mr. Wonderful who have contributed to the F.U.D. over the years have secretly owned Bitcoin and other cryptocurrencies?
Not all cryptocurrencies are equal and may never reach the market cap (over $1 trillion) that Bitcoin has achieved. However, as more institutional money comes into the cryptocurrency industry, the future looks bright.
To profit from Bitcoin and other cryptocurrencies you need to become part of the conversation that the community is having about the topic. The only way to do that is to become educated about the cryptocurrency space.
Click on the “Cryptocurrency Education” link in the menu above to get access to a resource where you can start your journey to gain the knowledge you need to take part in the greatest transfer of wealth as we transition from FIAT CURRENCIES to DIGITAL CURRENCIES!
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