Famous investor and media personality Kevin O’Leary, nicknamed “Mr.Wonderful”, a crypto advocate, made striking statements about Bitcoin (BTC).
In early 2019, O'Leary described Bitcoin as "garbage" and harshly criticized it. However, later on, his perspective completely changed. The Canadian entrepreneur now claims that Bitcoin (BTC) could potentially “save the world.”
Kevin O'Leary previously stated that cryptocurrencies, including tokens and blockchain companies, make up 20% of his investment portfolio. The entrepreneur hopes that Bitcoin (BTC) mining will be more sustainable in the future. It also expects hydroelectric and nuclear power to be the main power source for mining. O'Leary is also a big proponent of crypto regulation. The entrepreneur highlights the importance of making the crypto industry legitimate.
As you know, Bitcoin (BTC) mining is subject to many criticisms due to its high energy consumption. Touching on Bitcoin (BTC) and Bitcoin mining at the Bitcoin 2022 Conference, the Canadian businessman expressed his thoughts as follows:
"The next generation of Bitcoin mining devices and software is set to work with carbon neutral energy. Generating Bitcoin is so economical in terms of value, that's why Bitcoin will continue to be produced and the next generation of machines will continue to be financed."
Kevin O'Leary, known for his crypto investments, also touched on the energy consumption in Bitcoin (BTC) mining.
“Bitcoin miners could save the world as more and more renewable energy is used in bitcoin mining.”
Defending in his statements that stablecoins are the fastest growing asset after Bitcoin (BTC), O'Leary said, "If stablecoins are supported by the US dollar, we can come across as the world's reserve currency. Why not be a pioneer in this regard?" He also called on American politicians to work on stablecoins.