Kevin O'Leary Foresees The End Of 'Crypto Cowboys' As Industry Shifts Towards Regulation: 'They All Have Arrows In Their Backs'
Portfolio Pulse from Mehab Qureshi
Kevin O'Leary, entrepreneur and TV personality, predicts the end of the 'crypto cowboys' era as the cryptocurrency industry moves towards regulation. He believes that the founders of the crypto industry will soon face regulatory challenges and that he would only get involved in an exchange if it adheres to 100% compliance standards. O'Leary also emphasized the need for a regulatory framework that supports institutional investment and tackles fraudulent activities within the crypto space.
October 04, 2023 | 11:33 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Kevin O'Leary's comments on the need for regulation in the crypto industry could potentially impact the price of Bitcoin. He stated that Bitcoin will never reach $100,000 if it's not owned by institutions, which could be hindered by lack of regulation.
O'Leary's comments indicate a potential negative impact on Bitcoin's price in the short term. His emphasis on the need for regulation and institutional ownership for Bitcoin's price to reach $100,000 suggests that lack of these factors could hinder its price growth.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80