Also worth mentioning is the ongoing argument among governments and financial institutions over whether cryptocurrencies should be prohibited, as well as what realistic long-term price targets for the assets in question. Speaking with Kitco News, Kevin O’Leary of Shark Tank made the argument that banning Bitcoin and other cryptocurrencies was no longer an existential threat.
Hedge fund manager is not ruling out a ban
In opposition to O’Leary’s stance was hedge fund manager Roy Niederhoffer, the founder of R. G. Niederhoffer Capital Management, who opined that he is not ruling out a ban. Niederhoffer reminded investors that there was a period when even gold was prohibited from being owned in the United States. Both panelists agreed that regulation of the cryptocurrency space was unavoidable, but that it would result in a massive rally. According to O’Leary: Currently, Bitcoin is changing hands at $44,410, down 0.26% on the day but up 6.33% n the last week with a total worth of $843 billion, according to CoinMarketCap data. Watch: Kevin O’Leary Bitcoin says bitcoin holds economic promise
