After hot inflation data, Kevin O’Leary says ‘no choice with crypto’

After the crypto market suffered another major setback, Kevin O’Leary of Shark Tank fame gave his thoughts on where the industry was headed. The well-known investor, who was previously sceptical about cryptocurrency’s potential, has since altered his mind.

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Earlier this year, he made some intriguing disclosures about his cryptocurrency holdings. Kevin O’Leary has about 20% of his portfolio invested in cryptocurrencies. Tokens, currencies, and companies based on the blockchain make up the bulk of his crypto holdings. Twenty percent of my investment portfolio is now in blockchain and cryptocurrencies, he noted at the time.

He recently revealed that the development of cryptocurrencies and NFTs is his single area of expertise. In addition, the investor has lately made some insightful remarks regarding the proper approach for government regulators to take in regards to the crypto market. Consumer price index (CPI) statistics released earlier on Thursday by the U.S. Bureau of Labor Statistics showed less favourable outcomes than had been anticipated. In response to September CPI data showing consumer prices increased by 0.4%, cryptocurrency markets experienced a steep decline.

Kevin O’Leary Restates Faith In Crypto & NFTs

The star of “Shark Tank” has previously stated his or her unwavering faith in cryptocurrency. The entrepreneur reported in March 2018 that the cryptocurrency industry was receiving funding from throughout the world. According to him, the exponential expansion of cryptocurrencies like Bitcoin, Ethereum, and Polygon is unheard of. O’Leary has recently reaffirmed his position that the cryptocurrency possibility is more of a “take it or leave it” proposition. “You can’t stop it, you either join the wave or get lost!” he exclaimed on LinkedIn. Despite the backlash, he said, people will eventually adopt crypto.

While this is one of the reasons I am so optimistic about the future of crypto and NFTs, I have critics who disagree with me. There is no avoiding keeping up with the times when cutting-edge innovations are appearing that can greatly enhance our productivity and the speed with which international transactions are processed.

Said Stablecoin Regulation First:

Kevin O’Leary recently stated in an interview that stablecoins should be regulated first. He continued, saying that a single bill regulating all cryptocurrencies was not preferable. At the moment, stablecoins might be helpful.

Source: Google Trend

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