Shark Tank star and venture capitalist Kevin O’Leary looks at crypto bear market conditions, including recent allocations to altcoin portfolios.
In a new interview with Crypto Banter, O’Leary says his fund is considering adding crypto positions in Helium (HNT) and Pollen (PCN).
“Unique Operating Procedures [dictates that] Since it is not possible to own more than 5% of the funds under management in Bitcoin, we also hold all kinds of positions such as ETH and Solana. We’re considering positioning Pollen and Helium, very eclectic projects on telco decentralization. “
O’Leary said the Stablecoin Transparency Act, a bill aimed at clarifying regulation of stablecoins, signaled a new wave of capital as the entire industry was on the brink of legalization. I predict it will.
I have a personal speculation regarding regulation. Some do, some don’t, but there are facts to consider regardless of your position.
Most of the sovereign wealth funds where I work as an indexer have zero positions in any kind of cryptocurrency. I asked them if they were going to buy anything and they wanted grandpa, it’s bitcoin. They’re willing to put 50 basis points to 1% into Bitcoin if their compliance department allows it, but that won’t happen until the SEC regulates Bitcoin as a commodity or security. “
O’Leary said sovereign wealth funds around the world cannot afford to sour their relationship with the US Securities and Exchange Commission (SEC). Because the US market is important for other investments.
Venture capitalists say international giants will flood the cryptocurrency market if they get clear information from US authorities.
50 basis points of the Sovereign Wealth and Pension Fund is $1 trillion buy. You may see dollar valuations and I don’t care about those funds once they index it there will be automatic bidding when it falls below the 50 bps they decide to own , they sell strongly. This is very optimistic for Bitcoin, not pessimistic.
Me
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