Franklin

JPMorgan

Kevin

Bitcoin

Canadian businessman and television personality&nbsp;<a href="https://www.thestreet.com/crypto/markets/shark-tanks-kevin-oleary-recommends-2-assets-for-portfolio" rel="noopener noreferrer nofollow">Kevin O'Leary</a> is best known for his&nbsp;fiery appearance on the long-running TV show "Shark Tank." Last year, he made his feature film debut in "Marty Supreme."
"Mr. Wonderful"&nbsp;is also known for his&nbsp;blunt, no-nonsense takes on the world of entrepreneurship, politics, and digital assets. Whether it's Bitcoin (BTC), <a href="https://thestreet.com/crypto/ethereum" rel="noopener noreferrer nofollow">Ethereum</a> (ETH),&nbsp;or stablecoins, he is interested in all.
But since these are still considered alternative assets that lack regulatory clarity, there is a lack of&nbsp;institutional participation.
This is why O'Leary recently&nbsp;pressed the U.S. Congress to pass a pending bill so that cryptocurrencies find more acceptance among institutions.
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 Explained: Digital Asset Market Clarity Act (2:41)
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<h2 id="o-leary-identifies-stablecoins-as-safest-crypto">O'Leary identifies stablecoins as 'safest' crypto&nbsp;</h2>
On Oct. 19,&nbsp;O'Leary <a href="https://www.linkedin.com/feed/update/urn:li:activity:7518087882570387458/" rel="noopener noreferrer nofollow">wrote</a>&nbsp;a LinkedIn post in which he compared different kinds of cryptocurrencies on the basis of their volatility.&nbsp;The least volatile and safest are stablecoins, he wrote.
Though there is a perception that a cryptocurrency is always supposed to be volatile, it doesn't hold true for stablecoins.
A stablecoin, as the name suggests, tries to keep its value stable by being pegged to a so-called stable asset like the U.S. dollar.&nbsp;
Since the value of one dollar-pegged stablecoin is the same as that of one U.S. dollar, a stablecoin is also called a "digital dollar."
O'Leary also underlined that stablecoins are legal because of the&nbsp;Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. It was in&nbsp;July last year that President Donald Trump&nbsp;<a href="https://www.thestreet.com/crypto/policy/trump-signs-genius-act-into-law-stablecoin-regulation" rel="noopener noreferrer nofollow">signed</a> this law to regulate stablecoins.&nbsp;
The law mandates that issuers&nbsp;maintain 100% reserve backing using liquid assets, such as short-term U.S. Treasuries.
Notably, O'Leary is an <a rel="noopener noreferrer nofollow">investor</a> in the stablecoin giant, <a href="https://www.thestreet.com/crypto/markets/roundtable-100-analyst-reveals-circles-surprising-jump-despite-beaten-down-stock" rel="noopener noreferrer nofollow">Circle Internet Group</a> (NYSE: CRCL).
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<h2 id="o-leary-wants-clarity-to-pass-to-expedite-bitcoin-s-institutional-adoption">O'Leary wants CLARITY to pass to expedite Bitcoin's institutional adoption&nbsp;</h2>
But Bitcoin is "a little more risky and a lot more volatile,"&nbsp;the businessman said.
<blockquote>
 "It is a risk asset so you're buying it as a speculator."
</blockquote>
Launched in 2009, Bitcoin is a $1.6 trillion asset today. But it's still not 100% legal because the&nbsp;<a href="https://www.thestreet.com/crypto/policy/clarity-act-faces-decisive-senate-vote-tuesday" rel="noopener noreferrer nofollow">Digital Asset Market Clarity Act</a>&nbsp;has not been passed yet, he decried.
The most important crypto legislation in the U.S. so far, the CLARITY Act seeks to clarify the distinction between securities and commodities. But it has faced criticism from the Democrats over the ethics provision regarding Trump's crypto ventures and from the banks over stablecoin rewards.
Though the House passed the bill in 2025, it <a href="https://www.thestreet.com/crypto/policy/live-clarity-act-faces-senate-cloture-vote-in-today" rel="noopener noreferrer nofollow">couldn't secure</a> enough votes in the Senate last month and its advance was stalled.
"Mr. Wonderful" urged the Congress to pass the pending bill.
<blockquote>
 "We want that to happen. So most institutions haven't really touched Bitcoin yet."
</blockquote>
However, Wall Street giants such as <a href="https://www.thestreet.com/crypto/markets/blackrocks-iconic-fund-posts-strongest-day-in-over-12-months" rel="noopener noreferrer nofollow">BlackRock</a>, <a href="https://www.thestreet.com/crypto/markets/bitcoin-etfs-rebound-with-626-million-in-three-days-blackrock-alone-adds-479-million" rel="noopener noreferrer nofollow">Fidelity</a>, and <a href="https://www.thestreet.com/crypto/markets/morgan-stanley-quietly-doubles-down-on-bitcoin" rel="noopener noreferrer nofollow">Morgan Stanley</a> have been issuing Bitcoin funds for quite a long time now.
<a href="https://www.thestreet.com/crypto/markets/why-ripple-ceo-is-urging-congress-to-pass-clarity-act" rel="noopener noreferrer nofollow">Related: Why Ripple CEO is urging Congress to pass Clarity Act</a>
<h2 id="mr-wonderful-claims-no-one-s-using-blockchain">'Mr. Wonderful' claims no one's using blockchain&nbsp;</h2>
O'Leary was unfairly harsh on blockchains such as Ethereum&nbsp;in his post, writing no one is using the&nbsp;technology yet.
<blockquote>
 "But that could change."
</blockquote>
A blockchain is a distributed ledger which means no central body can control or manipulate recorded data.
In contrast to O'Leary's claim, plenty of financial institutions such as <a href="https://www.jpmorgan.com/kinexys/index" rel="noopener noreferrer nofollow">JPMorgan Chase</a>, <a href="https://www.citigroup.com/global/about-us/strategy/digital-assets" rel="noopener noreferrer nofollow">Citibank</a>, and <a href="https://www.franklintempleton.com/about-us/digital-assets/digital-assets-technology" rel="noopener noreferrer nofollow">Franklin Templeton</a> have been using it to serve clients.
<h2 id="the-roundtable-100">The Roundtable 100</h2>
If you follow our market coverage, don’t miss the <a href="https://roundtable100.com/tab/rankings" rel="noopener noreferrer nofollow">Roundtable 100</a>. Updated every Friday, it's a power ranking of the 100 most investable tech stocks, including digital assets. Check out the latest <a href="https://roundtable100.com/" rel="noopener noreferrer nofollow">RTB 100</a> rankings at <a rel="noopener noreferrer nofollow">roundtable100.com</a>.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are highly volatile and risky. Always conduct your own research before making any investment decisions.
<a href="https://www.thestreet.com/crypto/markets/shark-tanks-kevin-oleary-recommends-2-assets-for-portfolio" rel="noopener noreferrer nofollow">Related: Shark Tank’s Kevin O’Leary recommends 2 assets for portfolio</a>

Kevin O'Leary presses U.S. Congress to pass pending bill

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