Shark Tank investor Kevin O’Leary will only purchase Bitcoin once it is mined with clean energy as we can see more in our latest Bitcoin news today.
The popular Shark Tank investor said that he will only buy BTC mined substantially in countries around the world by only using clean energy. He distanced himself from the so-called “Blood” coins that are mined in China. The controversy around the carbon footprint and the environmental damage is still going on. The chairman of O’Shares, Kevin O’Leary is the next one to speak on the topic as per a recent CNBC interview, the investor claimed that he will never purchase BTC mined differently than the countries which only use green energy. In his opinion, the main cryptocurrency has two different faces:
”I see over the next year or two, two kinds of coin: blood coin from China, and clean coin mined sustainably in countries that use hydroelectricity, not coal.”
According to the German analytics company Statista, BTC mining uses a huge amount of energy and the data from Cambridge University also shows that China is responsible for 65% of Bitcoin’s production. O’Leary noted that he will not invest in BTC unless he knows the specifics of the mining process:
”I’m not buying coin unless I know where it was mined, when it was mined, the provenance of it. Not in China. No blood coin for me.”
Previously, he was known as Mr.Wonderful and had a negative opinion about the main cryptocurrency while calling it “garbage.” Back in 2019, he called it “useless currency because you can’t get in and out of it in large amounts.” A few years went by and he is seemingly softening his stance. He even said that he respects it but won’t’ invest huge amounts into his portfolio.
As previously reported, Shark Tank investor Kevin O’Leary invested in the top two cryptocurrencies by market cap despite their strong volatility compared to the traditional asset counterparts. The volatility kept Shark Tank investor Kevin O’Leary from making a strong bid on the asset class for years aside from the small purchase that he made back in 2017. Over the past few years, “Mr. Wonderfull” appeared on CNBC and blasted the asset classes as garbage but he seems to have changed his mind as he invested in both BTC and ETH with 3% of his portfolio as per the latest announcement.
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