A year ago, O’Leary expressed derision for any crypto mined in China, calling Chinese Bitcoin “blood coin” because of human rights concerns.
Last year, China announced multiple times that cryptocurrencies like Bitcoin are illegal, causing a mass exodus of crypto mining operations from China to nearby countries with cheap electricity, such as Kazakhstan.
This is because many Bitcoin miners are looking for sustainable energy sources, and O’Leary argued that the demand for nuclear and hydroelectric power will spur further innovation and sustainable energy adoption.
And, in Costa Rica, miners are bringing hydroelectric power plants back online to provide a cheaper, environmentally-friendly energy source.
Carbon offset programs are difficult to verify, according to O’Leary, who said that the margins for error for such initiatives made them virtually impossible to audit correctly.
O’Leary also sees cryptocurrency regulation as an essential part of its evolution.
O’Leary stressed the importance of stablecoins in the U.S., calling them “one of the fastest-growing asset classes outside of Bitcoin.” He warned that if U.S.