Kevin O’Leary, the famous shark known as Mr. Wonderful, says he is ready to increase his cryptocurrencies to 20% as soon as there are clear restrictions on stablecoins.

Former Bitcoin (BTC) skeptical O’Leary is now talking strongly about the cryptocurrency, which currently makes up 10% of its investment portfolio.

Mr. Wonderful is focusing on the USD-pegged stables, which he believes are an effective hedge against high inflation rates. He noted that by investing in stablecoins, he can earn up to 6%. He explained to Cointelegraph:

With an inflation rate of 6%, in 12 months you will buy 6% less electricity. That’s it […] I really want to solve this problem with Stablecoin.
A clear regulatory framework allows O’Leary to turn major financial situations into a stable. However, at present it is unable to invest more than 5% in a stable due to restrictions.

“My own compliance department sees stablecoins as stocks that are no different from stocks,” he said.

According to O’Leary, his commitment to stablecoins is shared by many institutional investors who are “quietly working in the background” and waiting for regulators to make the move.

In addition to stablecoins, Mr. Wonderful also invests in bitcoin, ether (ETH) and other cryptocurrencies. However, due to their fundamental volatility, these cryptocurrencies are unlikely to make up the majority of an institutional investor’s portfolio, he said.

“You can not get 20, 30% on Bitcoin on an institutional or sovereign order, no. Stable coins have this potential, ”he explained.

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Source: CoinTelegraph