Mr. Wonderful plans to invest in mining company stocks
Canadian businessman Kevin O’Leary laid out his plans to invest in mining company stocks. In an interview with Anthony Pompliano, Mr. Wonderful shared stories about his recent travels in the Middle East to find ways to invest in Bitcoin (BTC) mining. According to the Shark Tank mogul, investors in the Middle East are looking into “sovereign mining operations.”
O’Leary also predicts that in the next 2-3 years, sovereign funds may decide to invest in Bitcoin mining. However, the businessman notes that the funds will choose mining businesses that use sustainable energy. Due to environment-related controversies, the eco-friendliness of mining operations is a crucial deciding factor for investors, according to the Canadian entrepreneur.
The businessman also expressed his interest in opening his own mining operations. However, he explained that there are things that he is considering before this happens. He stated that aside from government approvals, the people who live in the community where the mining operations will take place must approve of the business.
Aside from these, the entrepreneur also explained that Bitcoin mining companies must be able to track their BTC earnings in company balance sheets. This enables investors to buy the mining company stock and own BTC through equity. O’Leary notes that he will be investing in BTC through this process.
Related: Kevin O’Leary-backed WonderFi to buy Bitbuy parent company for $162M
Back in December, O’Leary also shared his thoughts on crypto investing with the public. In an exclusive interview with Cointelegraph, the businessman explained that investing in crypto is similar to investing in Google and Microsoft.
"If you're investing in, for example, Google or Microsoft, what are you investing in? You're investing in software. Why wouldn't you invest in crypto? It's software too," he said.
Meanwhile, the former BTC critic is also very excited about the potential of nonfungible tokens (NFT). O’Leary is betting that NFTs may potentially become bigger than Bitcoin. However, he notes that he will invest in both.