Shark Tank's Kevin O'Leary says crypto will be the 12th S&P 500 sector

Famed Shark Tank investor Kevin O'Leary, whose portfolio is 20% dedicated to the blockchain sector, believes the cryptocurrency space will eventually become the 12th S&P 500 sector, he said at the this year's DC Blockchain Summit on Tuesday. Mr. Wonderful pointed to cryptos' "productivity" in terms of faster transactions and less fees compared with traditional wire transfers. In addition, O'Leary said environmental concerns are causing "chaos" for the mining space, citing a series of cases where regulators are pushing for eco-friendly solutions. The miners "won't be coming back until we resolve this ESG issue," O'Leary added. "New York is a highlight of that. They're considering cancelling Proof-of-Work - that would be a bad outcome for New York - that's not a good idea, but its frozen capital." Moreover, "New York, Tennessee Valley, Montana and North Dakota are ideal locations where you can put mining facilities under full mandate of hydroelectricity, where you