"Put Bitcoin into your portfolio" - Shark Tank's Kevin O'Leary shares excitement as a WonderFi shareholder

Shark Tank investor Kevin O'Leary recently shared his excitement for becoming a shareholder at Wonderful. This company is at the forefront of bridging the gap between digital assets and traditional financial services.

As of right now, Kevin says that the integration of Cryptocurrency into the conventional banking system is tough because of the restrictions and legal requirements.

However, various countries are trying to solve this issue, including nations such as Canada, UAE, Switzerland, and Australia.

In the United States, Shark Tank's Kevin says that the Securities Exchange Commission or the SEC has issued strict regulations regarding Bitcoin and other digital assets. With none of these policies being clear, having cryptocurrencies in the banking system has become a tough task.

Talking about the same, Kevin says,

"If you have to issue to the SEC because you're managing funds in the US and there's no policy on how you actually put Bitcoin into your portfolio... There's no way on Earth you're gonna do it so they have it. But now they're looking forward to having this occur in countries like the UAE, Switzerland, Australia and Canada, where there's an exchange called Wonderfi."

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Shark Tank investor Kevin O'Leary talks about the role of Wonderfi

Wonderfi is a Canadian exchange operating under the Ontario Securities Commission, the OSC. It helps close the gap between traditional banking and cryptocurrency investments.

He talked about the potential of Wonderfi to have become a key player in providing Bitcoin services within the banking system set in Canada. He says it is very highly structured, and five major banks dominate the market. Explaining the same, he says,

"They're (Wonderfi) now talking to banks, where a banking client can say look, 'I wanna put 5% into Bitcoin but I have no way to do it. The bank doesn't provide it because it's not compliant.' They'll allow them to do that at some point. That's the speculation. So that's why you're seeing so much interest, specifically in Bitcoin and digital currencies."

Shark Tank investor Kevin says that demand makes Bitcoin very interesting among users. There are a lot of banking clients who desire to put some of the money in their portfolio into Bitcoin.

However, Kevin explains that compliance issues are causing the banks to not be able to facilitate such investments at all. This transition has not yet occurred, but the Shark Tank investor thinks it could be soon enough. Kevin says,

"I took a position in that company (Wonderfi) under the premise that at some point, the banking system in Canada would have to go to the largest most liquid exchange to provide services to the clients. It hasn't happened yet but that's why I'm so optimistic.

He added,

So, in a way, if an operator is not litigating you anymore as we had in the last regime and they're now providing you with rules, in the case of Wonderfi, the OSC, it operates under the OSC."

Further explaining why he owns the stock of Womderfi, Shark Tank's Kevin points out the five major banks in Canada that have provided the country with a "very structured market."

He says there is a rising interest in Bitcoin, and the only way it could be possible is through an exchange platform that will comply with the existing banking systems. This is where he thinks Wonderfi will come and grab the market share.

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