Investing in Crypto and Its Backbone: A Smart Move?
Kevin O'Leary, a well-known investor and TV personality, has been vocal about his interest in cryptocurrencies and the companies that support them. He believes that investing in both the digital currencies and the infrastructure that powers them is a smart strategy.
Investing in Crypto and Its Infrastructure
O'Leary pointed out that if someone is investing in Bitcoin, they should also consider investing in the companies that mine it. He mentioned Bitzero, a Canadian company that provides sustainable power for data centers and mining activities, as an example. This company started trading on the Canadian Securities Exchange last month.
Bitzero's Versatile Technology
Bitzero's technology is not limited to Bitcoin mining. It can also support:
- Ethereum mining
- Data centers
- AI computing
O'Leary has invested in other crypto infrastructure companies as well, such as:
- Circle Internet Group
- Coinbase
- Robinhood Markets
The Importance of Power in Crypto and AI
O'Leary has also discussed the importance of power in the AI and cryptocurrency industries. He argued that the real challenge for these sectors is not a bubble, but a lack of electricity. He believes that owning Bitcoin and Ethereum can give investors exposure to most of the cryptocurrency market.
Current Bitcoin Price
At the time of writing, the price of Bitcoin was $92,962.55, up 6.87% in the last 24 hours.
O'Leary's insights suggest that investors should not only focus on the digital currencies themselves but also on the companies that make them possible.
