Kevin O’Leary, renowned investor and “Shark Tank” star, highlighted the significance of investing not only in cryptocurrencies like Bitcoin (CRYPTO: BTC) but also in the underlying infrastructure that powers them.
‘Mr. Wonderful’ Bets On Crypto Infra Firms
In an X post, O’Leary said that he likes to “own the infrastructure as well as the assets.”
“If you’re gonna own Bitcoin, back then, why wouldn’t you own the entity that mines Bitcoin?” he stated.
O'Leary, also known as "Mr Wonderful," specifically mentioned Bitzero, a Canadian energy infrastructure company, where he serves as a strategic investor.
“It’s agnostic to who uses its power. You can mine Bitcoin, you can mine Ethereum, or you can build a data center, or build an AI compute. It doesn’t matter,” he stated.
Bitzero, which provides sustainable power generation for data centres to support high-performance computing and mining activities, started trading last month on the Canadian Securities Exchange.
O’Leary has been a known investor in cryptocurrency infrastructure companies, including Circle Internet Group Inc. (NYSE:CRCL), Coinbase Global Inc. (NASDAQ:COIN), and Robinhood Markets Inc. (NASDAQ:HOOD).
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The Importance Of Power For AI, Crypto
He has also talked about the importance of power in the AI and cryptocurrency sectors. Earlier in the week, he dismissed the idea of an AI bubble, arguing that the real threat to the AI boom is the scarcity of electricity.
O’Leary previously stated that owning only Bitcoin and Ethereum (CRYPTO: ETH) is enough to capture 97.5% of all the cryptocurrency market’s "alpha."
Price Action: At the time of writing, BTC was exchanging hands at $92,962.55, up 6.87% in the last 24 hours, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
