Kevin O’Leary, a Shark Tank investor, Says He Is Collaborating With US Senators To Pass Crypto-Friendly Legislation

Kevin O’Leary of Shark Tank claims he is collaborating with US senators to develop crypto-friendly rules that would open the digital asset market to institutional investors.

The business billionaire informs his 870,700 Twitter followers that he met with a bipartisan group of senators sponsored by Republican Wyoming Senator Cynthia Lummis, an ardent proponent of cryptocurrency, to discuss crypto legislation.

“I spent the day in the Senate with a bipartisan group of lawmakers who get the crypto humour. They are developing policies that will allow institutional investors access to these markets.

We appreciate your hosting my bipartisan meeting with Senators on The Hill to discuss crypto policy, Senator Lummis. The good news is that they are all on board and agree that if they adopt legislation, there will be huge potential.”

Senator Lummis encouraged the Federal Reserve last month to consider adding Bitcoin to its balance sheet once it is regulated, arguing that BTC’s decentralised character would ensure its widespread adoption.

Lummis has said that Americans should include the top digital currency into their retirement savings plan, praising BTC as a strong store of value rather than a medium of trade.

O’Leary, who was formerly a sceptic of digital assets, changed his tune last year and started adding them to his portfolio. Now, the renowned investor is admitting crypto assets’ “phenomenal” growth rate.

“Bitcoin, Ethereum, Polygon, and all these other blockchains are all comprised of software. These new ideas are growing at a breakneck pace, and finance is pouring in from all over the globe.”

Also Read: Joe Biden Is Set To Sign An Executive Order On Crypto This Week