Celebrity investor Kevin O’Leary (aka “Mr. Wonderful”) says he will only buy Bitcoin, which is mined sustainably, in countries that consume clean energy.
Speak to in an interview CNBCO’Leary said he would not buy a “blood coin” mined in China and focus his investments on BTC, which is mined sustainably with clean energy: “I’m seeing two types of coins in the next year or two. Blood coins from China (and) clean coins that are sustainably mined in countries that use hydropower, not coal. “
The CNBC report notes that Bitcoin mining is an energy-intensive process, with nearly 65% of all BTC being mined for the first time in China.
O’Leary said he was on the “clean coin” side even though he hadn’t elaborated on his energy criteria for Bitcoin, which he would invest in. The prominent investor also said he was “inundated” by institutions asking if he would buy his bitcoin from China.
He said: “All of these problems … have now come to the fore with Bitcoin. The institutions will not buy coins mined in China, coins mined with coal to burn electricity, not coins mined in countries with sanctions. “
O’Leary went on to say he wouldn’t buy Bitcoin if he didn’t know exactly where it was being mined.
February 23 Hadley Gamble, an Abu Dhabi-based CNBC anchor, spoke to O’Leary about crypto.
According to a report from Bitcoin.com, O’Leary said to her:
“I actually think digital currencies will stay here. Most of the people willing to hold it, including institutions in the past 90 days, are ready to deal with the volatility …
“I am fascinated. I am investing. I have a 3% weighting between Ethereum and Bitcoin. The volatility makes me sick, but I’m getting used to it …
“And finally, I’m starting to think about how to invest in bitcoin mining infrastructure.“