Kevin O’Leary says the Fedcoin is not going to happen

Kitco News, Released on 10/6/21

As the Federal Reserve prepares to launch a paper reviewing the U.S. central bank digital currency (CBDC), investors are speculating as to when it will be released, and what its release will mean for the rest of the cryptocurrency market.

Kevin O’Leary, star of Shark Tank and chairman of O’Shares ETFs, discusses with Michelle Makori, editor-in-chief of Kitco News, his expectations for a Fedcoin rollout.

0:00 – Bitcoin and sustainability
7:20 – Two classes of Bitcoin?
9:00 – Cryptos, DeFi are now 12th sector of S&P
12:48 – WonderFi
19:00 – Is Fedcoin going to happen?
25:10 – U.S. dollar debasement

Kevin O’Leary is a Canadian businessman, investor, and television personality. From his basement, he launched SoftKey Software Products and In 1999 Kevin sold his company to the Mattel Toy Company for a staggering 3.7 billion dollars, one of the largest deals ever done in the consumer software industry. To keep his money working hard, he took control of his wealth from his lackluster money managers and founded his own mutual fund company, O’Leary Funds. He raised hundreds of millions of dollars from investors who share his “get paid while you wait” yield oriented, value investing philosophy. He is a venture capitalist on the Canadian television show Dragons’ Den as well as a shark on the United States’ version of Dragons’ Den, Shark Tank, which airs on ABC. Kevin has authored 2 books: Cold Hard Truth: On Business, Money & Life and The Cold Hard Truth On Men, Women, and Money: 50 Common Money Mistakes and How to Fix Them.

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