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shark tank celebrity kevin o’leary, also known as mr. Wonderful, said he would be willing to increase his crypto allowances up to 20% as soon as there are clearer rules around stablecoins.
o’leary, a former bitcoin (btc) skeptic, is now a vocal advocate of cryptocurrency, which currently makes up over 10% of his investment portfolio.
Mr. Wonderful is particularly focused on stable rates indexed to the U.S. dollar, which he sees as an effective hedge against rising inflation. By placing stability, he pointed out, he can obtain yields of up to 6%. he explained to cointelegraph:
?”when inflation is 6%, you're buying power 12 months from now is 6% less. and that's all lot […] i'm a huge advocate for solving this problem with stablecoin.”
A clear regulatory framework would allow O'Leary to convert significant positions into stable liquidity. However, as it stands, it cannot invest more than 5% in stable investments due to regulatory constraints.
"My own compliance department considers stablecoins as an action no different than an action," he said.
According to O'Leary, his enthusiasm for stability is shared by many institutional investors, who are "working quietly in the background" and waiting for regulators to do their job.
in addition to stablecoins, mr. wonderful is also an investor in bitcoin, ether (eth), and other cryptocurrencies. However, because of their underlying volatility, these cryptos are unlikely to constitute a major part of an institutional investor's portfolio, he said.
"You're not going to get to a 20, 30% in bitcoin within an institutional or sovereign mandate, you just aren't. Stablecoins have this potential," he said.
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