Canadian Entrepreneur Expresses Intentions to Invest In Green Mining Stocks
Canadian entrepreneur Kevin O’Leary has disclosed his intentions to invest in stocks of green energy mining companies. O’Leary shared some interesting stories about his recent voyage in the Middle East with Anthony Pompliano to discover ways to invest in BTC mining. He then disclosed that moguls in the region want to invest in sovereign mining operations.
O’Leary anticipates that sovereign funds may go into BTC mining in the next couple of years. He, however, stated that these funds will venture into mining if the companies use renewable energy. As it stands, more than 60% of mining firms still rely on non-renewable sources.
O’Leary Outlines Green Energy As A Decider For Further Investments
It’s no longer news that crypto mining is energy-intensive. Aside from that fact, it poses a threat to the environment and climate. Countries, such as Iran and Kazakhstan where BTC mining is quite enormous have experienced one power issue to the other.
Last week, Iran limited power supply to licensed miners as well as street lights in areas with low criminal rate in a bid to conserve power for the winter period. Kazakhstan has also had a fair share of blackouts due to the high energy consumed during mining.
O’Leary opines that if firms could opt for sustainable energy, more funds will go into mining operations. He outlined eco-friendliness as the deciding factor for sovereign funds investors.
The entrepreneur also indicated interest in setting up his mining operations. However, he stated that some things must be put in place before he makes any move. He would have to get government approval and permission from the community’s inhabitants to carry out any mining operation.
He also noted that BTC mining firms should be able to monitor their earnings in balance sheets to avoid any confusion in figures. It is the balance sheet that will entice the investors to buy stocks from these mining companies and own Bitcoin through equity. According to O’Leary, that’s the process he would go through to invest.
Crypto Investments and Google Investments Are Similar
Last December, O’Leary shed more light about investing in cryptocurrency. The mogul demystified that crypto investments are no different from Google.
According to him, anyone investing in Google is also betting against the potential growth of the Software, which is the same case with cryptocurrency. Anyone putting their money in digital assets is also investing in the software.
O’Leary isn’t only a BTC advocate, but a lover of NFTs. He sees massive potential in the digital collectible sector, and is betting that they will grow bigger than BTC in the next couple of years. However, he’s not backing down from investing in both.