Shark tank's Kevin O'Leary opinion on crypto crap
Published On : 2019-05-15 09:26:15
O'Leary calls bitcoin "crypto crap" on CNBC
Kevin O'Leary is a Canadian businessman, best know from the reality tv show: "Shark tank". Where start-up entrepreneurs pitch their company to the "sharks" in the hope they get an investment. The sharks are institutional investors or venture capitalist (VC's) who invest their own money and time in the entrepreneur's ideas.
O'Leary, also known as Mr Wonderful, is well known for his money quotes on the show. He repeatedly says "I love money".
On a CNBC interview, Mr Wonderful admitted he bought into crypto on Coinbase, and calls it crypto crap. He bought $ 100 worth of different coins, which are now worth only $30.
He previously stated that he tried to buy real estate with bitcoin, but the counterparty had issues liquidating the digital currency to cash.
Even though O'Leary does not appear to be a fan of bitcoin or cryptocurrency, the short video also highlights a few positive things on btc.
1. Bitcoin bull run has started
2. CME bitcoin futures volume broke a new record of 1.2B in volume
3. Fidelity is close to launching their custody trading service
4. btc halving is coming up, which means the miners get less btc and new supply is limited
5. It's the best performing asset in the last decade