ICYMI: Investor Kevin O’Leary touts proactive regulation and policy at Bitcoin 2022
Kevin O’Leary argued Wednesday that good policy will open the floodgates of capital to the crypto space.
During his keynote on Wednesday, O'Leary argued with meaningful regulation in place"spigots of capital are going to flood into the sector like you've never seen." That includes becoming the 12th sector of the S&P 500 in the next decade, according to O'Leary."I've been spending a lot of time in Washington in the last three months," he told attendees.
Because bitcoin mining is an energy-intensive business, this could spell trouble. And as miners mainly mitigate their carbon use by purchasing offsets, the regulation could prove troublesome for the industry at present. O'Leary argued that bitcoin mining is a valuable enough enterprise that miners will fund the next generation of renewable energy in order to avoid a carbon audit.