Shark Tank star Kevin O’Leary has said that he would prefer to buy 'Clean Coins' over 'Blood Coins' from China. Shedding light on an emerging new challenge for institutional investors interested in the oldest cryptocurrency with respect to clean energy, O'Leary highlighted a few aspects of 'clean' Bitcoin mining in an interview with CNBC on Monday.
The Canadian celebrity investor says he will only prefer to buy Bitcoin mined in countries that favorably use sustainable clean energy and not “blood coins” mined in China.
Not clarifying why he described the Chinese Bitcoin in a negative tone, O'Leary went on to say:
Once a Bitcoin critique himself, dismissing it as “garbage” and a “giant nothing burger,” Kevin revealed that he decided to invest in Bitcoin following the Canadian approval of the first few BTC exchange-traded funds in February. He further admitted to having set aside 3% of his portfolio in cryptocurrencies.
Moreover, this latest disposition about Chinese Bitcoins can also be seen in the light of recent criticism by Canadian PM Justin Trudeau. Who condemned the alleged human rights violations of Uyghur Muslims in China and called for it to end effectively.
While Bitcoin mining is purely energy-intensive, about 65% of the world’s BTC was mined in China as of April 2020. O'Leary claims institutions are not willing to 'endorse' crypto from China because of human rights issues and he's personally vigilant over the compliance of every coin he owns.