Prominent Canadian investor Kevin O’Leary admits he is a “hawk” on the Chinese Communist Party.
Kevin O’Leary, a prominent Canadian investor, has admitted to being a “hawk” on the Chinese Communist Party. As chairman of the O’Shares ETF, O’Leary called for “extremely aggressive” steps to level the economic playing field between the U.S. and China.
In an interview with CNBC, O’Leary said the U.S. should allow Chinese companies to face barriers in the U.S. market, which he said are similar to those of U.S. companies trading in mainland China.
O’Leary also favored delisting Chinese stocks as well as excluding Chinese companies from the U.S. court system, adding that he has production lines in mainland China but faces obstacles in entering the mainland market.
In addition, with the rise of cryptocurrencies, O’Leary revealed that he would only buy bitcoin mined using clean energy, not “blood money” from China.
O’Leary believes that there will be two types of cryptocurrencies in the next 2 years, a “blood coin” from China and a “clean currency” mined using clean energy (hydroelectricity), and O’Leary stressed that he will only use “clean currency”.
Bitcoin mining is so energy-intensive that, according to research firm Statista, as of April 2020, nearly 65 percent of the world’s bitcoin is mined in mainland China, which primarily uses coal as a source of mining power.
O’Leary did not elaborate on where “clean” bitcoin is obtained, but some countries use hydroelectric power more extensively than others, and some entities have said they mine cryptocurrency through renewables.
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