Anti-Bitcoin ‘Shark Tank’ Investor Kevin O’Leary Now Believes Crypto Is The World’s Savior

BitcoinistPubblicato 2022-04-10Pubblicato ultima volta 2022-04-10

Introduzione

This week, Kevin O'Leary of Shark Tank joined a slew of other Bitcoin proponents in Miami for the Bitcoin 2022...

This week, Kevin O’Leary of Shark Tank joined a slew of other Bitcoin proponents in Miami for the Bitcoin 2022 conference.
“Mr. Wonderful” has been making waves in the Bitcoin and cryptocurrency space in recent months.
The Canadian entrepreneur recently converted to a fervent cryptocurrency critic, emulating investment luminaries such as “The Oracle of Omaha” Warren Buffett.
On Bitcoin And Sharks
Shark Tank is a popular reality television show that features entrepreneurs, innovative products and services, and a panel of bloodthirsty, money-obsessed individuals.
Regardless of bitcoin’s recent surge, O’Leary stated in a YouTube broadcast last year that he would not invest his money in the cryptocurrency.
Bitcoin, according to the investor, is a “big nothing-burger” and a “piece of rubbish.”
“Bitcoin is a colossal nothingburger,” O’Leary stated repeatedly “because not every institution is prepared to ball with it.”
A Change Of Heart
However, his perspectives have shifted significantly since then.
During Wednesday’s Miami keynote convention speech, the entrepreneur stated:
“Bitcoin mining is going to save the world.”
One of the primary vitriol directed towards cryptocurrencies is that it is energy-intensive and harmful to the environment. However, O’Leary believes that is precisely where the potential exists.
According to Fortune, O’Leary envisions a future in which Bitcoin mining operations are powered by nuclear or hydroelectric energy.
He intends to invest in transmission lines that will connect them — and he believes they will have the ability to power nearby communities.

BTC total market cap at $805.56 billion on the daily chart | Source: TradingView.com
At the moment, the Cambridge Centre for Alternative Finance estimates that Bitcoin consumes slightly more energy per year than Norway, at 142.4 terawatt hours compared to 124.3 terawatt hours.
Additionally, CCAF believes that roughly 40% of BTC mining is conducted using sustainable energy sources such as hydroelectric, solar, or wind.
He Did Invest In Crypto!
Meanwhile, for the uninformed, here is some bit of info regarding O’Leary’s investment.
Late last year, the businessman spent $100,000 on a mobile application that is completely based on crypto assets. Bundil, the app, was launched on a recent episode of Shark Tank.
O’Leary views crypto regulation as a necessary component of the technology’s progress.
While some may be skeptical of government-imposed crypto restrictions, such as a recently proposed measure that would define the assets required to support stablecoins (crypto tokens tethered to fiat currencies such as the US greenback), O’Leary is all for crypto market regulation.
O’Leary disclosed at the conclusion of the Miami event:
“Crypto will be the S&P 500’s twelfth sector,” referring to the stock market index. “Regulation is on the way, which is a good thing,” he explained.

Letture associate

From 'Old Dogs' to 'New Darlings': How AI is Revaluing Old Infrastructure, from Dell to Nokia

"Old Dogs" Become AI's New Darlings: Revaluing Legacy Infrastructure The AI investment narrative is shifting. Beyond the spotlight on core chipmakers like Nvidia, a new wave of interest is rising for legacy tech companies—Dell, HPE, Nokia, Cisco, Corning, Western Digital—once labeled as slow-growth, outdated stories. This resurgence stems from AI's evolution from model development to real-world deployment, creating massive demand for physical infrastructure. As AI moves into data center construction and enterprise adoption, the focus turns to who can actually build and deliver complex systems. These established players hold decades of experience in supply chains, integration, networking, and enterprise delivery—assets now critical for scaling AI. The revaluation can be grouped into three key infrastructure areas: 1. **Servers & Integration (e.g., Dell, HPE):** They are becoming essential system integrators, transforming GPUs into full-scale AI servers with networking, power, and cooling, then delivering them to clients. Strong recent earnings and AI-specific revenue/order growth for Dell and HPE underscore this shift. 2. **Networking & Connectivity (e.g., Corning, Nokia, Cisco):** As AI clusters grow, high-speed data transfer becomes paramount. Corning benefits from fiber demand for data center links, Nokia is exploring AI-integrated wireless networks (AI-RAN), and Cisco sees surging orders for data center switches—all critical for efficient AI operations. 3. **Storage (e.g., Western Digital, Seagate):** The AI data explosion requires vast capacity. Beyond high-speed memory (HBM), there's growing need for high-capacity HDDs to store training data, logs, video, and cold/archival data cost-effectively. This revaluation, however, is not a blanket endorsement. True reassessment requires concrete proof: AI-driven orders and revenue growth, upward revisions to company guidance, and sustainable improvements in profit quality, not just top-line sales. In essence, AI is not turning all old tech firms into high-growth stocks; it is selectively re-pricing the "old assets" of companies that are mission-critical for building the new AI infrastructure, transforming their legacy capabilities into renewed growth engines.

marsbit1 min fa

From 'Old Dogs' to 'New Darlings': How AI is Revaluing Old Infrastructure, from Dell to Nokia

marsbit1 min fa

The Bitcoin Roadmap To $500,000: Analyst Shows How Price Will Get There

An analyst projects Bitcoin could reach $500,000 based on technical chart analysis, mapping out a multi-phase roadmap within a long-term ascending channel. The analyst, Crypto Tice, states Bitcoin has completed the first phase ("First touch") of the pattern and is entering a second phase that could trigger its strongest rally yet, potentially driving a more than 693% increase from current levels above $63,000. This would be followed by a final pullback. This outlook comes as Bitcoin faces significant selling pressure, having fallen 17% over three days to around $61,300, erasing roughly $250 billion in market cap. The downturn has also impacted other major cryptocurrencies like Ethereum. Despite the crypto market decline, U.S. equities remain near highs, creating a notable divergence that some suggest could indicate market manipulation or crypto front-running a potential stock market correction.

bitcoinist13 min fa

The Bitcoin Roadmap To $500,000: Analyst Shows How Price Will Get There

bitcoinist13 min fa

Expected $1 Billion Crypto Windfall Shrinks To Fraction In Israel Disclosure Program

Israel's voluntary crypto disclosure program has seen a much weaker response than expected, with only 58 individuals coming forward. Tax authorities had projected up to $1 billion in revenue from the initiative, but early reports indicate declared crypto capital totals only about $50 million. The program offered immunity from criminal charges for correcting past reporting errors, but its lack of an anonymous option reportedly deterred many holders who feared putting their names on record. With an estimated $1 billion in digital assets held by Israeli residents, the disclosures so far represent only a small fraction of the market. The filing window, which has specific conditions and runs until August 2026, remains open.

bitcoinist25 min fa

Expected $1 Billion Crypto Windfall Shrinks To Fraction In Israel Disclosure Program

bitcoinist25 min fa

Breaking News! Anthropic Calls for a Universal Pause in AI Research

Anthropic warns of AI self-evolution, reporting that over 80% of its internal code is now written by its AI, Claude. Productivity has surged, with engineers merging 8x more code than in 2024. Claude's performance on complex, open-ended tasks jumped from 26% to 76% success in six months, nearing human parity. The company introduces a new metric: "AI task duration." In 2024, AI handled 4-minute tasks; by 2026, it manages 16-hour tasks, with capability doubling every 4 months. Claude also reviews code, catching bugs that previously caused outages, and significantly outperforms humans in research tasks like optimizing code (52x speedup) and conducting AI safety experiments. Anthropic outlines three potential futures: 1) Progress plateaus, 2) AI accelerates but humans remain in control, or 3) AI achieves full recursive self-improvement (RSI), designing its own successors. This final path could revolutionize fields like medicine but also risks catastrophic alignment failure if control is lost. The call echoes similar concerns from OpenAI. Anthropic proposes a coordinated pause on AI development—if a verifiable mechanism to ensure all labs comply can be established.

marsbit30 min fa

Breaking News! Anthropic Calls for a Universal Pause in AI Research

marsbit30 min fa

Probability in the Price: How World Cup Odds Are Calculated

**The Probability in the Price: How World Cup Odds Are Calculated** Two major systems released their "championship probabilities" before the 2026 World Cup, and they disagreed on the favorite. Prediction market aggregators listed France at around **17%**, while the Opta supercomputer gave European champion Spain **16.1%**. These numbers look similar, but their production methods are fundamentally different. The market's **17%** is the **price** that clears after hundreds of millions of dollars in trading across platforms like Polymarket and Kalshi, where contracts trade between 0 and 100 cents, directly representing implied probability. This liquidity is provided by crypto-native market makers like Wintermute, though the market still has "the liquidity profile of an early-stage" asset class. In contrast, Opta's **16.1%** is a **simulated frequency**. Its model uses team data (including betting market odds as an input) to estimate match probabilities, then runs **10,000 full tournament simulations**, counting how often each team wins. Which is more accurate? There is **no rigorous, cross-tournament academic study** directly comparing their track records. However, a persistent **longshot bias**—where low-probability outcomes are systematically overvalued—observed in traditional betting for nearly a century, has also been found in modern crypto prediction markets. Research shows low-price contracts on Kalshi/Polymer less likely to pay out than their implied odds suggest. Unlike traditional bookmakers, prediction markets operate on **public blockchain ledgers**, making every transaction auditable and enabling such research. However, price formation is also influenced by **regulatory uncertainty**, as seen in recent US state-level bans and legal battles over jurisdiction. In summary, the "probability" you see is either a **market-clearing price** subject to behavioral biases and liquidity constraints, or a **model-simulated frequency** that partially incorporates market data. The question of which method is more reliable remains open, highlighting the importance of asking: **How was this number produced?**

marsbit30 min fa

Trading

Spot

Futures