Billionaire investor Kevin O’Leary revealed to Daniela Cambone in a recent interview with Stansberry Research about when and why Bitcoin’s price will skyrocket.
The star investor from Shark Tank, also known as Mr. Wonderful, explains why he minimized his investment in dirty Bitcoin miners and where he reinvested his capital.
“Dirty” Bitcoin Miners
O’Leary said, “Until the market is regulated by law, Institutional investors are prohibited from directly disclosing the presence of cryptocurrencies. and has made more Bitcoin purchases as an agent.”
“They buy shares of Bitcoin mining companies like Marathon, Riot, etc.,” he said, explaining that these miners keep most of their Bitcoin on their balance sheets. And over time, these stocks are traded according to the volatility of the crypto itself.
“You can see that these stocks go up and down almost like Bitcoin,” he said, pointing to the environmental, social and governance directive. Also known as ESG (Environment, Social and Governance) for short, Larry Fink’s latest CEO, BlackRock, is the world’s largest asset management company.
Mr. Wonderful explained that BlackRock wants these bitcoin mining companies to have a “verifiable” ESG sustainability directive, which puts Bitcoin miners in dire straits.
“Companies in the Bitcoin mining industry started buying carbon credits in an effort to make them seem greener. And if you check one of these companies They are definitely not environmentally friendly.”
Mr. Wonderfu also said he is “selling shares of Marathons Riot and all of these mining companies” because he is confident they will collapse this year. And he’s not worried about crypto mining regulations that will influence prices.
solution of the problem
According to Mr. Wonderful, “solutions” are on the rise in countries like Canada, Norway, as well as the northern state of New York. and western Texas
The “solution to the problem” is “a new generation of miners” who are mining Bitcoin using clean energy from water, wind and nuclear.
“The reason they do so is because there is no carbon in the equation. So there’s no need to be audited, there’s no need to buy carbon credits, there’s no such thing as worrying,” he noted. By saying that he took the funds from the sale of shares. “Dirty miners” and invest them in these new companies.
“Now I know and am confident that every coin I hold is sustainably mined,” he concludes, warning investors to stay away from dirty miners.
Bitcoin price
O’Leary also revealed that in addition to collaborating with the United Arab Emirates (UAE) to invest in mining plants in Norway, He’s also taking advantage of Facebook’s 30% share price swing and is still putting some capital in it.
He also stated that “Bitcoin prices can reach $100,000, $200,000 or $300,000 when institutions can trade freely under supervision.”
He pointed out that Bitcoin can be considered software. and institutions want to own the software The way they own Microsoft and Google
“So it’s very easy for them to understand it as soon as the requirements are met. They will buy 1 – 3% and that is when the price will rise,” he concluded.