Shark Tank star Kevin O'Leary has recently made a U-turn on Bitcoin by investing three percent of his net worth into the top cryptocurrency.
In a recent interview with Stansberry Research, the Canadian investor mentions that $100,000 per Bitcoin doesn’t seem too crazy to him anymore, calling it “the U.S. dollar” of cryptocurrencies.
He also suggests that the market cap of the flagship coin could ultimately reach $20 trillion:
If it became, let’s say, I don’t know, $20 trillion of value, okay? You would be basically very very stable in my view because you would be being held by people and institutions that are holding it for, again, to hedge against inflation or just storage of value.
The newfound is being very picky about what coins actually end up in his stash. O'Leary says that he wants to steer clear of Bitcoin mined in China.
I have the same issue with Bitcoin. I do not want to own Bitcoins minded in China...because I’m very unhappy with my relationship with the Chinese government regarding my investments there, so I choose not to invest in it.
O'Leary also mentions that he doesn’t want to touch Bitcoins that have a bad provenance, i.e., “blood” coins.
Mr. Wonderful claims that “the most important thing” is to mine Bitcoin himself:
No one can say to me that you basically mined and found it from somewhere where they were wasting energy or they were not carbon neutral, or they came from a country that’s under sanction. This is a big deal for me, and plenty of other shareholders too.
The multimillionaire states that he’s going to mine Bitcoin in places like Iceland, Canada, and Denmark that prioritize green energy:
I think that my plan is one that anybody would do when they care about the environment.