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Kevin O’Leary Says a “Made in China” Label on Bitcoin Keeps Some Funds Away

Many institutions have reservations when it comes to Bitcoin originating from China, which poses a big problem for mass investment in BTC since the majority of the supply is being mined over there, commented Kevin O’Leary, co-host of the TV show Shark Tank.

While speaking at the Cboe Global Markets webinar, O’Leary said that in order for Bitcoin to really stand a chance with institutions, it had to be acceptable to ethics and sustainability committees.

“It needs to be compliant,” commented O’Leary, who also serves as chairman of O’Leary Fund Management. “That’s going to be a problem going forward.”

O’Leary said that institutions would ask themselves: “Is this coin manufactured in countries that are abusing human rights or have sanctions against them? I’m really speaking now of China. I have had many institutions tell me they do not want to own ‘China coin’,” he continued.

He has also declared that he spends “a fair amount” of time working with miners who are willing to mine compliantly – both for institutions and on his own behalf.

O’Leary also said that companies were “really interested in owning a coin that has some kind of provenance to them.”

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