Amid US President Donald Trump’s strategic Bitcoin reserve moves, some notable statements came from Shark Tank host Kevin O’Leary.
At this point, Kevin O’Leary stated that the Strategic Bitcoin Reserve proposal will not come to life despite strong advocacy from industry leaders such as Michael Saylor.
Famous name Kevin O’Leary discussed the BTC reserve issue in a program with SkyBridge founder Anthony Scaramucci.
While two famous names expressed opposing views on the Bitcoin reserve, they were asked whether the Bitcoin reserve would benefit the US economy.
While Scaramucci supports the idea of a Bitcoin reserve, Kevin O’Leary stated that the reserve idea will not happen.
Kevin O’Leary has categorically rejected the idea of a Strategic Bitcoin Reserve, stating that the bill would not receive bipartisan support.
The famous name, who also criticized Bitcoin bull Michael Saylor, claimed that Saylor’s aggressive Bitcoin strategy was selfish.
“Michael Saylor talks about his own book,” O’Leary said.
O’Leary also emphasized that Strategy sold stock, preferred stock, and debt to buy Bitcoin, noting that its shares were trading at twice the value of the company’s underlying Bitcoin holdings. The famous name also argued that such a BTC model lacked long-term viability.
Instead, O’Leary emphasized that the likely regulatory focus in the near term is stablecoin regulation. According to him, a U.S. stablecoin law seems more likely than a BTC reserve.
Anthony Scaramucci, however, disagreed with O’Leary, saying the bill would benefit the economy.
MicroStrategy President Michael Saylor, on the other hand, states that the US could potentially earn $106 trillion by gradually purchasing Bitcoin within the reserve.
*This is not investment advice.
