Bitcoin Isn't a Currency, It's Just an Asset - Shark Tank's O'Leary

Bitcoin and cryptocurrencies have broken records this year as more investors, particularly millennials, flock into the market. The leading digital currency bitcoin has managed to rally significantly this, rising to an all-time high of nearly $8,000 and up over 500% year to date. But, one famed investor remains a little skeptical about the future of bitcoin. “Bitcoin to me isn’t a currency, it’s an asset,” Kevin O’Leary, chairman of O’Shares ETF Investments and star of ABC’s Shark Tank, told Kitco News. “I’m not sure bitcoin is a great long term investment because I don’t know what’s going to happen to it.” Instead, O’Leary said he prefers to stick with what he knows. “I do know a company that makes free cash flow that pays you a dividend every quarter. To me, that is a good idea, I love my dividends.” O’Leary recently launched an app called Beanstox, which aims at attracting millennial investors by providing fractional share ownership. (show less)

Bitcoin and cryptocurrencies have broken records this year as more investors, particularly millennials, flock into the market. The leading digital currency bitcoin has managed to rally significantly this, rising to an all-time high of nearly $8,000 and up over 500% year to date. But, one famed investor remains a little skeptical about the future of bitcoin. “Bitcoin to me isn’t a currency, it’s an asset,” Kevin O’Leary, chairman of O’Shares ETF Investments and star ... (read more)

 
 
Kitco News

Kitco News
The Kitco News team speaks to analysts and experts on the frontlines of the market to get the most up-to-date news on the economy. The show offers a well-rounded, timely view on big market moves and any major headlines that may affect financial assets. Coined – no pun intended – as the number one source of precious metals news, Kitco News is the leading provider of up-to-date price action in the precious metals space.

 

Disclaimer: The content on this website, including, without limitation, news, videos, interviews and commentaries, is provided by Kitco Metals Inc. ("Kitco") for informational purposes only and is not intended as any form of advice, whether legal, accounting, investment, financial or tax advice. Therefore, it cannot be relied upon as such. Should you require such advice, contact a licensed professional. The content provided herein is provided on an "as is" basis without any warranty of any kind, whether express or implied and your use of the information provided in said content is entirely at your own risk. In no event will Kitco be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content on this website.