Shark Tank’s Kevin O’Leary Won’t Buy Bitcoin Mined in China

Celebrity investor Kevin O’Leary (aka “Mr. Wonderful”) says he will only buy Bitcoin mined sustainably in countries that use clean energy. 

Speaking in an interview with CNBC, O’Leary said he would not buy “blood coin” mined in China, and would focus his investments on BTC mined sustainably using clean energy: 

“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.”

The CNBC report notes that bitcoin mining is an energy-intensive process, with nearly 65% of total BTC first mined in China. 

O’Leary said he was siding with “clean coin,” despite not elaborating on his exact energy criteria for Bitcoin he would invest in. The celebrity investor also said he was “inundated” by institutions asking if he was buying his bitcoin from China. 

He said: 

“All these issues … have now come to the fore on Bitcoin. Institutions will not buy coin mined in China, coin mined using coal to burn for electricity, coin mined in countries with sanctions on them.”

O’Leary continued, saying he would not purchase any Bitcoin unless he knew the exact location of where it was mined. 

On February 23, Hadley Gamble, a CNBC anchor based in Abu Dhabi, talked to O’Leary about crypto.

According to a report by Bitcoin.com, O’Leary told her:

I actually think that digital currencies are here to stay. Most people that are willing to hold them, including institutions over the last 90 days, are willing to deal with the volatility…

I am fascinated. I’m investing. I’m holding a 3% weighting in it between ethereum and bitcoin. The volatility sickens me but I’m getting used to it…

And, finally, I’m starting to think about how do I invest in the infrastructure of mining bitcoin.

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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