Culture

Kevin O’Leary Describes The Future Of Bitcoin Mining And Where He Might Invest In His Own Mining Operation

#Crypto
by

Kevin O'Leary

Mark Davis

  • Kevin O’Leary wants to open up his own bitcoin mining operation
  • He spoke with Anthony Pomliano on The Best Business Show this morning
  • O’Leary laid out how institutions will start exploring bitcoin mining in the next 36 months

This morning Kevin O’Leary hopped on Anthony Pompliano’s The Best Business Show to talk about the state of cryptocurrency and the regulations and mandates around it. O’Leary also talks about where he’s investing his capital in the world of crypto.

Mr. Wonderful starts by explaining to Pompliano his recent trip to the Middle East. He tells how he spoke with investors about the future of sovereign bitcoin mining operations. Specifically, how bitcoin mining operations could potentially be run by sovereign funds.

Mr. Wonderful’s Prediction on Bitcoin Mining

O’Leary predicts that in the next 24-36 months, sovereign funds are going to be exploring ways to mine bitcoin ethically and sustainably. Once these methods are conceptualized, these sovereign funds will then ask for approval from communities both “politically and by the people.” The approval from the communities will ensure the operation has a way to “give back,” according to O’Leary.

The example O’Leary presents is if a bitcoin mining operation were to start in West Texas. The owner of the bitcoin mining operation will go to the town and have approval from the mayor and local government. Once the bitcoin mining is up, there will then be a second step that ensures the operation will not sell the coins once discovered.

The trust between the institution and the bitcoin operation will create an ability for the institution to purchase equity in the operation. The institution won’t have to buy bitcoin directly, but it will still own it via equity in the operation.

Kevin O’Leary Owning A Mining Operation within the Calendar Year

The exchange between bitcoin mining operations and institutions is how O’Leary plans to invest in bitcoin mining operations.

He even states in the conversation, “I’ve always wanted to open up my owning mining operations and I’m going to probably do it within this calendar year.”

“I’ve always wanted to open up my owning mining operations and I’m going to probably do it within this calendar year.”

O’Leary goes further to say he’s traveling all over to globe right now to explore the ways he can invest in the exchange of bitcoin mining.

If you want to watch the entire explanation of how countries will mine bitcoin, you can watch the 7-minute clip above. To watch the entire 40-minute conversation between Pompliano and O’Leary you can do so here.

John is the Style & Gear Editor for BroBible. You can contact him on Twitter @johnthompsoniv or via email John@brobible.com