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Shark Tank host Kevin O'Leary has reiterated his lack of interest in cryptocurrency space as it currently exists. The Canadian entrepreneur, nicknamed 'Mr Wonderful', shared his thoughts on Bitcoin in an interview on CNBC's Squawk Box show.
Mr Wonderful has expressed his disdain for Bitcoin on the past, explaining back in 2018 to CNBC's Fast Money show that he believes its lack of regulatory compliance will eventually see it lose dominance to Ethereum (ETH).
The return of the bull market has done little to change O'Leary's stance on crypto. Discussing crypto with Circle CEO Jeremy Allaire he said that "I don’t wanna breach any regulators because I’m a participant in financial services globally, and that is where the majority of money is...I have to be compliant, I have no interest in doing any of this crypto crap because it is not compliant."
Bitcoin is a rogue currency, says Mr. Wonderful @kevinolearytv pic.twitter.com/eF860ahg3s
— Squawk Box (@SquawkCNBC) July 3, 2019
O'Leary claimed that there could be some potential in a form of digital currency that is tied to a number of fiat currencies, including the US Dollar and the Japanese Yen, not dissimilar to Facebook's new Libra project as well as a number of other stablecoins. However, when discussing USD Coin (USDC) with Alllaire, O'Leary claimed that the U.S. Treasury's refusal to accept crypto as payment for taxes still limits its appeal.