As per the latest reports, Kevin O’Leary, who is a famous investor as well as a reality TV celebrity has talked about “Blood Coin”. O’Leary is a famous celebrity who is widely known for starring in two reality shows known as Dragon’s Den and Shark Tank.
The businessman has recently stated that he completely condemns the idea of the way how Bitcoin (BTC) is being mined in China. He stated that the Bitcoin (BTC) currently being mined in China is just like “Blood Coin”.
After calling the Bitcoin (BTC) mining in China as “Blood Coin”, O’Leary went onto announce that he would only deal in Bitcoin (BC) he considers “Clean Coin”. By “Clean Coin”, O’Leary meant Bitcoin (BTC) that has been mined using clean energy or renewable energy.
He stated that with immediate effect, he is going to switch to “Clean Coin”. He also suggested that other investors and institutions thinking about investing in Bitcoin (BTC) should follow the same process.
Kevin O’Leary also talked about the nature of the acquisition of Bitcoin (BTC) and pointed out the mining process for the currency. He stated that Bitcoin (BTC) is a digital asset that is being mined despite of the fact that it is harmful to the environment.
He stated that other products in the entire world are being manufactured and acquired through streamlined processes. For other products, there are always regulatory compliance measurements as well as institutional standards that must be followed.
On the other hand, Bitcoin (BTC) is being mined without any of the standards. This is eventually going to have a huge impact on the global environment. At present, Bitcoin (BTC) mining process consumes an enormous amount of energy, and countries such as China are ahead of others in mining.
He pointed out that at present, China is responsible for mining around 34% of the Bitcoin (BTC) in the entire world. Unfortunately, the majority of it is being done through energy produced through coal and other similar resources.
This is resulting in an enormous amount of pollution being let out in the atmosphere, which is extremely dangerous. The world may not recognize the imminent threat that this process is exerting on the atmosphere. But soon, the world will realize it and when it does, it will be too late to recover from the damage that the “Blood Money” would have caused.
He also stated that apart from the Bitcoin (BTC) being mined through such energy sources, there are also countries mining Bitcoin (BTC) with sanctions imposed on them.
He stated that the Bitcoin (BTC) being mined and acquired by countries with sanctions on them are also producing “Blood Coin”. Therefore, the investors will also not buy/acquire Bitcoin (BTC) from such sources.