Kevin O’Leary, a well-known Shark Tank investor, believes that the portfolio is dedicated to the blockchain sector and that the crypto space will eventually become the 12th sector of the S & P 500 Index. He said at this year’s DC Blockchain Summit on Tuesday.
Wonderful pointed out the “productivity” of cryptography in that it trades faster and has lower fees than traditional wire transfers.
In addition, O’Leary said that environmental concerns are causing “chaos” in the mining space, citing a series of cases where regulatory agencies are pushing for the implementation of more environmentally friendly solutions. Proof of Work Blockchain-based Bitcoin (BTC-USD) Consume more electricity in a year than Sweden, Norway and the United Arab Emirates, according to the World Economic Forum’s annual report meeting..
Miners “will not come back until this ESG problem is resolved,” O’Leary emphasized. “New York is the highlight. They are considering canceling Proof of Work-it will have bad consequences for New York-it’s not a good idea, but it’s its frozen capital.”
“New York, Tennessee Valley, Montana, and North Dakota are ideal places where mining facilities can be placed under the full authority of hydropower without the need for carbon audits.” This is a great opportunity for miners. He added.
Cryptominers focused on Green Crypto Production include: Soluna (SLNH), Greenidge Generation (Gree), Argo Blockchain (ARBK), Galaxy Digital (OTCPK: BRPHF), Sphere 3D (Any), Bit farm (BITF), Iris Energy (IREN) And Powerbridge Technologies (PBTS).
Meanwhile, Bitcoin (BTC-USD -2.4%), Grandpa’s assets hinted at by O’Leary have fallen to $ 29.1K in the afternoon trading, but Ethereum (ETH-USD -4.3%), The second largest digital coin has dropped to $ 1.94K.
In January, Kevin O’Leary said he was thinking about NFTs. May be better than Bitcoin..