““Shark Tank” investor Kevin O’Leary is pivoting his crypto strategy from tokens to energy infrastructure, declaring that power generation is now the real prize.”, — write: www.coindesk.com
Kevin O’Leary says power is now more valuable than bitcoin”Shark Tank” investor Kevin O’Leary is pivoting his crypto strategy from tokens to energy infrastructure, declaring that power generation is now the real prize. Jan 23, 2026, 8:20 pm
What to know:
The big pivot: O’Leary has moved capital away from smaller tokens to focus on physical infrastructure like land, power, and copper.
- He believes power is now “more valuable than bitcoin” and has secured significant land deals with stranded natural gas in Alberta and the US
- His thesis is driven by the massive energy needs of bitcoin mining and AI, noting that entities controlling power can serve either market.
- He advises investors to look at copper and gold, noting copper prices have nearly quadrupled for his projects in the last 18 months.
- He views Robinhood and Coinbase as “no-brainer” infrastructure investments, having reallocated capital from altcoins into these platforms. He describes Robinhood as the premier bridge for managing equity and crypto in one portfolio, while labeling Coinbase the “de facto standard” for businesses to manage stablecoin transactions and vendor payments once regulatory acts pass.
The contrast: The investor offered a harsh reality check for altcoins, which he dismissively refers to as “PooPoo coins.”
- O’Leary sold 27 positions in October, arguing that sovereign wealth funds and indexers only care about Bitcoin and Ethereum.
- He claims these two assets capture over 97% of the market’s alpha, making other tokens “worthless” to large allocators.
- Despite the hype around Solana, he views it as “just software” facing a “Sisyphean task” to catch up to Ethereum’s marketing and adoption.
What comes next: No significant capital appreciation is expected for crypto until the “Clarity Act” passes, which O’Leary predicts will happen by mid-May.
- He attributes the legislative stall partly to Coinbase’s resistance regarding yield on stablecoins.
- O’Leary argues it is “unfair” that banks can earn yield on deposits while stablecoin holders cannot, a disparity he calls “un-American.”
- He expects the bill to pass before the midterms because staffers are already dedicating the majority of their time to it.
Broader view: Large sovereign wealth funds are ready to pour billions into crypto, but only once compliance hurdles are cleared.
- Funds managing $500 billion are looking to allocate up to 5% to the asset class but are currently blocked by compliance departments.
- These investors are “agnostic” and unemotional, caring only about liquidity and alpha rather than the “backstory” of specific blockchains.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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