On Thursday, Shark Tank’s Kevin O’Leary delivered a keynote speech at the Bitcoin 2022 conference happening in Miami.
He says that on the basis of his experience in the indexing business, massive capital pools that are worth trillion dollars are anticipating a policy. The amount of cryptocurrency is almost zero or negligible. He clarifies that it is the purvey of hedge funds, retail investors, and high net worth individuals.
O’Leary continues that there is a lack of policy. It is not a negative thing if there is a policy and the regulator starts regulating. He forecasts an inflow of huge capital into the sector, nothing like ever.
The shark tank star goes on to say that anyone who is investing in it now, will be receiving a potentially massive wave of interest when policy arrives.
O’Leary further forecasts that in the next decade the blockchain, crypto, and Bitcoin will come under the 12th sector of the S&P.
How Is Bitcoin Mining Good For The World?
O’Leary also shares why he thinks Bitcoin mining will save the world.
He says that the coming generation of Bitcoin miners has started to operate with carbon-less energy, — wind and solar, hydroelectricity, and nuclear power.” And this is why the Shark tank star believes Bitcoin mining is good for the Earth.
The Canadian businessman continues that the operation to generate Bitcoin is highly economic, it would go on to finance the next iteration of turbines and machines. 90% of dams in America were constructed over a century, considered hydroelectricity but never witnessed the installation of turbines.
O’Leary excitedly shares that he will be installing turbines. He also revealed the reason. He says that if he could make use of it, it is great economics, and will also not have to bother with a carbon audit. Mr. Wonderful explains it provides for communities and more power.
He further shares his belief saying that it is the future of Bitcoin mining. He says that the power will be generated for all communities as they mine the crypto asset following a 100% green mandate and in an ethical way with the help of hydroelectricity.
Bitcoin Value Can Rise With Regulation
O’Leary also reveals what will happen once the policy comes into being, he says they will make it mandatory for institutions to allocate Bitcoin, something that he predicts will happen. There will be 50 basis points to 300 basis points in their portfolio.
At last, he says that this amounts to a trillion dollars. He then exclaimed that whoever is a Bitcoin advocate and wants to see its value increase, would want regulation and will witness the capital flow into the sector.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2022/04/10/shark-tanks-kevin-oleary-reveals-how-bitcoin-mining-will-save-the-world/