It should be noted that Kevin O’Leary often comments on what is happening in the cryptocurrency industry – and not always successfully. For example, in January 2021, he publicly rejected the idea of investing in Bitcoin, though he had considered it before. As you may remember, from January to April 2021 BTC had a huge growth, which ended up with the then record high of $64K.

Bitcoin’s growth from January to May 2021

Already in March, he said that professional investors do not want to hold bitcoins that have been mined by Chinese miners. According to him, such coins are bloody, as human rights are actively being violated in China. Accordingly, investors would be concerned about the origin of the cryptocurrency as it could affect their reputation.

Finally, Kevin brought up the topic of cryptocurrency investing again last summer. That time Dogecoin was unlucky: O’Leary compared investing in this mock project to a trip to the casino, which promises nothing positive. At the same time, Kevin did see some fundamental value in popular projects like Bitcoin and Etherium.

What Bitcoin is being criticised for

According to O’Leary, as long as the cryptocurrency market remains without a coherent infrastructure for regulation, big investors are buying shares in companies somehow related to the crypto market. The better the latter does, the faster the value of the securities rises.

Top 10 companies with BTC on their balance sheets

Meanwhile, international investment firm BlackRock requires crypto companies to meet environmental, social and corporate governance (ESG) standards. Here’s an investor’s rejoinder in which he shares his perspective on the situation.

Players in the mining industry have started buying carbon credits [emission rights – redactor’s note] to take their “green” status, but all this is completely unverifiable. If you audit one of these companies, they will definitely not meet environmental standards.

That is, the main investor complaint against the mining companies is that they allegedly don't care about the environment and actively pollute it. Note that since spring 2021, the industry has seen the opposite trend: at least BTC miners in Europe and North America are switching to renewable energy sources, which the press and the general public are actively telling about.

Billionaire Kevin O’Leary

O’Leary’s decision, published by news portal Cryptoslate, is as straightforward as possible: he wants to make mining completely green. That is, to open mining centres in places where miners have access to electricity from renewable sources.

Unfortunately, this is not always possible: after all, green electricity is often more expensive, so it is simply not economically viable for miners to use it. Nevertheless, many companies in this field do seek to reduce their contribution to the environment, because investors are interested in it.


We think Kevin's viewpoint is hardly true. Firstly, many large companies are already switching to renewables whenever possible - especially in developed countries. Secondly, decentralised assets are uncontrollable, so there's no way O'Leary's proposal could be enforced. Still, anyone can join the miners, and the further choice of equipment and power sources is up to them. That is why such proposals will obviously end up on the cue.


What do you think about it? Share your opinion in our millionaires’ cryptochat. There we will talk about other topics related to the blockchain and decentralisation industry.