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21 June 2021

Kevin O'Leary: BTC Mining Must Become Greener | Live Bitcoin News

Kevin O'Leary: BTC Mining Must Become Greener | Live Bitcoin News

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In a new interview, he discusses why it is so important that bitcoin miners utilize cleaner methods of energy such as hydroelectricity over coal to extract new units of BTC from the blockchain.

He explains that one of the big reasons why miners need to change things up to be more environmentally friendly is because right now, common extraction methods are really turning off institutional investors, and without these companies and individuals in play, bitcoin can never become a legitimate or mainstream currency.

He says that many institutions are looking to invest approximately three percent of their portfolios in bitcoin and cryptocurrencies should they find it “palatable,” but so long as bitcoin continues to follow old energy methods, these institutions are not likely to consider bitcoin modern enough or different enough to buy it.

The truth is bitcoin is good for the environment because it is forcing these miners to find the most efficient way to create the power to do the mining.

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