Shark Tank star Kevin O'Leary, also known as Mr. Wonderful, says regulatory policy toward cryptocurrencies will be on hold until the next general election due to the "gridlock in Washington." Bitcoin is worth less than a trillion dollars, "which is nothing in the context of assets," and in order for that to increase, the SEC and regulators need to rule in order for institutions to get involved, he tells our Daniela Cambone at the Bitcoin 2022 conference in Miami. The current bill being proposed, "would bring billions of dollars into the balance sheets of corporations," O'Leary continues. He issues a dire warning about ESG policies, and asserts that the "carbon offset market is complete BS." The new generation of crypto miners emerging will survive by using, "hydroelectricity and nuclear power," he believes. Proof of work on how you mine cryptocurrency resources is going to, "drive efficiency in energy sources," he concludes.
