Kevin O’Leary, a Canadian businessman, announced his intention to invest in mining equities. Mr. Wonderful discussed his recent trip to the Middle East in search of opportunities to invest in Bitcoin (BTC) mining in an interview with Anthony Pompliano. Investors in the Middle East are interested in “sovereign mining enterprises,” according to the Shark Tank billionaire.
Sovereign funds may opt to invest in Bitcoin mining in the next 2-3 years, according to O’Leary. The billionaire does point out, however, that the funding will favour mining companies that use renewable energy sources. The eco-friendliness of mining operations, according to the Canadian entrepreneur, is a major decision factor for investors due to environmental-related concerns.
The entrepreneur also showed an interest in starting his own mining company. He did say, though, that there are some things he’s thinking about before this happens. Apart from official permits, he noted that the residents of the neighbourhood where the mining operations will take place must also approve the firm.
Aside from that, the entrepreneur stated that Bitcoin mining firms must be able to trace their BTC earnings in their financial statements. This allows investors to purchase stock in the mining company and hold BTC through equity. O’Leary says he’ll be investing in BTC as part of the process.
Investing in cryptocurrency is equivalent to investing in Google and Microsoft
O’Leary also discussed his views on cryptocurrency investing with the general public in December. Investing in cryptocurrency, according to the billionaire, is equivalent to investing in Google and Microsoft.
“What are you investing in if you’re investing in Google or Microsoft, for example? You’re spending money on software. Why wouldn’t you consider investing in cryptocurrency? It’s also software “he stated
Meanwhile, the former BTC sceptic is highly enthusiastic about the nonfungible tokens’ potential (NFT). O’Leary believes that NFTs have the potential to outperform Bitcoin. He does say, though, that he will invest in both.