Kevin O'Leary has made a name for himself as an entrepreneur, business advisor, investor and television personality. While he has built his career in the conventional finance space, O'Leary is excited about investment opportunities around cryptocurrency. He joined Roundtable at Bitcoin Miami to discuss investment and regulation in blockchain. In this segment, O'Leary discusses Bitcoin investment and energy.
O'Leary notes that, whatever the policy outcome, he expects to continue treating cryptocurrency as investment assets similar to mutual funds.
"I'm not looking for the federal government to provide innovation. I'm looking for them to provide policy. We don't need them to develop anything," O'Leary says. "What we'll do is license multiple stablecoins, all backed by the U.S. dollar, and let them compete in the market."
While he disputes the SEC's proposed regulation around carbon audits, O'Leary acknowledges that it's urgent to start seeking alternative energy sources for crypto mining operations."
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"We have to listen to these people and realize we can't mine coin using carbon offsets. We've got to go hydro, we've got to go nuclear," he says. "I am so glad I had to sell every share I had in a company that uses carbon offsets, because I see the writing on the wall and it's not pretty."
Watch the full discussion below:
Kevin O'Leary, investor, entrepreneur and television host