Kevin O’Leary says he could start a Bitcoin mining operation this year

  • O’Leary says many sovereign funds are looking to invest in Bitcoin mining operations and that the next two to three years could see massive inflows into the sector.

  • He also believes institutions are keen on companies that are compliant with government and local community regulations.

  • He could dive into the mining operations himself this year, he added.

“Shark Tank” star Kevin O’Leary is positive about Bitcoin mining as an investment strategy and says he’s probably going to start his own mining operation sometime this year.

The Canadian businessman shared his plans in an interview with Anthony Pompliano, noting that Bitcoin mining was likely to see huge capital inflows over the next two, three years.

O’Leary says he’s been able to talk to investors across various jurisdictions, especially in the Middle East and the lesson learned from these travels is that many are looking at investing in Bitcoin mining via their sovereign funds.

While he predicts a majority of countries will eventually start mining Bitcoin, the O’Shares Investment Advisors chairman says the operations will want to do so in a manner that supports environmental sustainability. He says that this is because funds will want to steer off recent controversy relating to Bitcoin mining.

Once a sovereign fund decides it is going to invest in Bitcoin, it’s going to want to mine it sustainably and ethically,” he said.

He notes that ESG (Environmental, Social, and Governance) demands and other compliance issues are top of the list for these investors. Other than that, these non-financial factors are a part of his own considerations before investing.

It’s also the approach O’Leary will look to apply when deciding how he’s going to invest in the sector, he noted.

The celebrity investor also revealed that he has for a long time envisioned running a crypto mining operation, noting that he would “probably do it in this calendar year.”

On what mining companies need to do to attract investors, O’Leary says regulatory compliance is a must. The companies also need to ensure they involve the local communities, with a proper and clear understanding of how some of the returns go back to the community.

He also noted that a lot of institutional capital will be flowing into crypto mining over the next couple of years. However, he feels that the inflows might only come if investors believe the exposure to BTC through equity that they are getting is from a company that has adhered to all the regulatory requirements.

These investors need to see the mined coins as part of the particular mining firm’s balance sheet, something that will give institutions and funds the confidence to buy and hold the crypto stocks.

Marathon Digital Holdings, Riot Blockchain and Hut 8 Mining are some of the top mining companies whose stocks rose significantly as Bitcoin price jumped to a new all-time high in 2021.

Note: This article have been indexed to our site. We do not claim legitimacy, ownership or copyright of any of the content above. To see the article at original source Click Here

Related Posts
Jeep Wagoneer and Grand Wagoneer: Heirs to the Throne thumbnail

Jeep Wagoneer and Grand Wagoneer: Heirs to the Throne

Autos Un concepto que revolucionó la idea de los todo terreno en la década de los años sesenta está de regreso con el máximo nivel de lujo, capacidades y tecnología. Marcos Martínez 01 de enero de 2022, 16:00 En 1963 este modelo le dio por primera vez a los suvs, un carácter de refinamiento. Hoy…
Read More
Credit Score: What It Is and How It Works thumbnail

Credit Score: What It Is and How It Works

Credit scores are key pillars defining an individual's financial stability in the complicated world of finance, where lending and borrowing weave the threads of economic progress. Whether you're asking for a mortgage, a car loan, or a new credit card, your credit score is a major factor in these financing decisions. We unravel the mysteries
Read More
Why has Fantom (FTM) dropped over 17%? thumbnail

Why has Fantom (FTM) dropped over 17%?

Fantom (FTM) has experienced a major loss amid the broader crypto market crash. Currently, Fantom is trading at $1.36, a 17.45% drop in the last 24 hours. It has a trading volume of $2,459,245,631, market cap of $3,480,367,098, and a circulating supply of 2,545,006,273 FTM coins Let’s look at the factors contributing to the current…
Read More
Quirinale, Salvini affonda Berlusconi. Addio sogni di gloria thumbnail

Quirinale, Salvini affonda Berlusconi. Addio sogni di gloria

Silvio Berlusconi non ha ancora ufficialmente scolto la riserva sulla propria candidatura al Quirinale che la stessa è sul punto di essere affossata dagli alleati. Per i quali, la Lega di Salvini in particolare, la tenuta del governo con relativa possibilità di incidere sulla prossima legge elettorale è più importante del sostegno allo storico alleato.…
Read More
Microsoft buys Activision Blizzard in $96b game deal thumbnail

Microsoft buys Activision Blizzard in $96b game deal

Activision, which has a long history with Microsoft’s Xbox, will also help the software giant better compete with rival Sony’s PlayStation. The publisher’s largest franchise, Call of Duty, became successful largely due to Microsoft’s online platform Xbox Live, which allows gamers to connect for multiplayer matches. Most of Activision’s games are designed to run on…
Read More
Index Of News
Total
0
Share