"Why I Started MINING My Own BITCOIN!" (Millionaire Bitcoin Advice) | Kevin O'Leary

We don't think you should own coin made in China.

I said the only way I can possibly not own kind of China coin is to make it myself. So, new game plan: every coin I'm going to own, I'm going to know where it came from, when it was created, and it's going to be virgin to me. My wallet will be packed with completely compliant coin. I'm gonna make you famous on my YouTube channel!

Get over here! I heard a row back. First of all, you like the hat? Yeah, look at this head! I think it's gonna look fantastic on you. That is beautiful! Isn't it beautiful? It's yours. It's yours! You gotta—right there, spectacular! Spectacular! That looks absolutely gorgeous. I know you look pretty good!

Mom, can I keep both of them? Yeah, only one. Look at this! It looks spectacular! His and hers? Who knew? Happy wife is a happy life! Another happy customer, just making everybody happy here on the beach today. It's row back madness!

Hey everybody, great to be back for a new episode of Ask Mr. Wonderful, here from Miami Beach.

Anyways, what I want to talk about this week is what happened to me on this whole issue around Bitcoin. Now, Bitcoin has been in the news like crazy, hitting new highs, past a trillion dollars of market cap or AUM. It's just really big, and you have to kind of make up your own mind: do you believe in it or not? So, that's sort of binary: yes or no.

Now, I bought some Bitcoin and Ethereum back in 2017, so I've seen what's happened to it since then, but I never got to talk about it because the regulators—I'm involved in many other financial services industries like ETFs and payment systems and highly regulated businesses—and the regulators were not on board for talking about Bitcoin, talking about coins, talking about this as an asset class because they hadn't made up their minds on it yet.

Then, recently, just in the last few months really, regulators in Switzerland, in France, in the UK, in Canada, in New Zealand—oh, there's my lemonade! Thank you so much, that's great! That's good lemonade!

Anyways, the point is the regulators have been changing their minds. Take Canada, for example; the regulator there has allowed for ETFs—there's Bitcoin exchange-traded funds. I think there's three of them now, two more coming. There's a lot of activity going on regarding this asset class, where people can buy it just like they can in a basket of stocks and exchange-traded funds. The same thing's happening in Switzerland and France, etc., etc.

So, basically, it hasn't happened yet stateside, but it looks like the regulator is going to open up slowly to this idea of, you know, Bitcoin becoming a real asset class. Now, I think it's more like a property, so I came out—sort of came out is really a good term for it—and said, "Look, I'm going to do an allocation of three percent of my portfolio in Bitcoin."

Oh, that's good lemonade! You're so hot out here, you gotta hydrate!

At the same time, when you think about it, if it's three percent weighting, I didn't think much about it until the phone started ringing, the texts were howling at me, I got all these emails from institutional clients that I deal with, and they said, "Wait a second, where is this coin you're buying coming from?" I said, "Who cares where it comes from?"

Well, you know, the majority of coin is mined in China. Yeah, the same place that's under sanction from the United States! The Chinese miners burn coal, they pollute to create electricity, they're very inefficient in some cases, and they make Bitcoin by burning coal, which is horrific if you care about sustainability. Many of these institutions have sustainable committees, and they can't do this kind of thing.

So, I also want to stay on the side of compliance. I do not want to buy coin from polluters. I do not want to buy coin from China or any other country that's under sanction. I don't want to do that!

So, new game plan. Here's what I decided to do. I came out and talked about this too. I said, "Look, in the case of Bitcoin, every single coin has a time it was created, so you know exactly the moment it became a Bitcoin, but you don't know where it was created." You know, the founding algorithms never contemplated that being an issue, and it is an issue because I don't want to own China coin, nor do many institutions want to own China coin.

So the only way to avoid that is to make your own virgin coin—become a miner yourself!

So, new game plan for me! Wait, a little hydration break here—little lemonade, very tasty! You know, I just thought of something. I think you might like this. What is a drink on the beach without a little umbrella? You gotta have a little umbrella! Look at that! Isn't that cute? I could put it in my drink, you know, stick it in one of the limes or just for the floral display of it! I think this looks terrific!

Here's what I'm thinking—oh yeah, that looks good! It's kind of got a Hawaiian vibe to it!

Anyways, so I start getting a ton of calls from institutions saying, "Where'd the coin come from?" I said, "Look, I understand there's an issue, you know, because I work with them every day." They said, "We don't think you should own coin made in China." I said, "The only way I can possibly not own kind of China coin is to make it myself."

So, new game plan. I started calling Bitcoin miners all around the world. I said, "Look, you need capital, you want to expand your operations, you need technology, you need money to make more coin in a more efficient manner and burn less electricity to do that. I'm willing to finance you in exchange for a royalty. I want you to pay me back in virgin coin!"

Right? That's a good game plan! That's exactly what I did.

So, here's the plan: in Denmark, in Sweden, in other countries that are compliant, Northern Canada, where they pay less to air condition the servers because it's very cold outside—more efficiency, more productivity, and more compliance and sustainability. That's my mode now!

Every coin I'm going to own, I'm going to know where it came from, when it was created, and it's going to be virgin to me. My wallet would be packed with completely compliant coin. Not blood coin, not coin from China, not coin from countries that are abusing human beings, not coin from countries that are burning too much electricity and wasting to make their coin.

I want efficiency! I want compliance! And guess what? Many, many institutions want the same thing!

So, they saw—they started calling me up, saying, "Look, why can't we partner together? Why don't we do this together? Why don't we create mines? You will put capital up beside—we'll be paid in royalties as well." I think it's a great model!

But I guess the big news of the week is there are many people that really care where their coin comes from and how it was made, and that is done sustainably. And I think that's fantastic news!

Think about sustainability as a theme because everything I invest in now, that's what I care about. I want to know that it's being done efficiently and sustainably. That's how you pass the world onto someone—the next generation—knowing you did your piece, you did your part!

If you like that video, wait! Did you see my next one? Don't forget to click right over here and subscribe! It's, you know, money for nothing and chicks for free! For the next three months, they're pouring money into the American economy like they've never done this. New 1400 check, plus another 400 that goes straight into people's pockets and, in many cases, into the market.