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Kevin O’Leary says he will not buy bitcoins mined in China



Celebrity investor Kevin O’Leary stated that he will only buy Bitcoin that is sustainably mined in countries that use clean energy, not “blood coins” mined in China.

In an interview with CNBC’s “Capital Connection” on Monday, he said: “I expect two coins to appear in the next year or two.” “Coins from China and/or clean coins are used in countries that use hydropower instead of coal. Sustainable mining.”

Statista̵

7;s data shows that as of April 2020, bitcoin mining is very energy-intensive, and about 65% of the world’s bitcoins are mined in China.

O’Reilly said: “I’m on the clean side.”

According to a CoinDesk report, the chairman of O’Shares ETF once called Bitcoin “junk”, but recently changed his mind and said that he would allocate 3% of his personal investment to the cryptocurrency.

O’Leary said that after he expressed his desire to invest in Bitcoin, he was “overwhelmed” by institutions and asked if he was buying “Chinese blood coins.”

Unless I know where the coin was mined, when and where it was mined, I would not buy a coin. not in China. I have no blood coins.

Kevin O’Leary

Chairman of O’Shares ETF

In order to comply with environmental and corporate governance rules, more and more large institutions impose restrictions on their assets. Issues include human rights and carbon emissions. O’Reilly said whether the product is made in China is also a consideration.

He said: “All these issues…have now stood out on Bitcoin.” “Institutions will not buy coins mined in China, coins mined with coal-burning electricity, coins mined in countries under sanctions.”

He added that some organizations said they did not want to recognize China because of human rights issues.

O’Leary personally said that he is working hard to ensure that every coin he owns gets a complaint.

He said: “Unless I know where and when to mine, I will not buy coins.” “Not in China. I have no money.”


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