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Shark Tank Investor: Bitcoin an Asset But Requires Education to Avoid Disaster

Shark Tank investor Kevin O’Leary has offered both
encouragement and warning to Bitcoin investors in a recent interview
on CNBC’s Make It. He offered a
stiff warning for those who don’t understand Bitcoin, and an
encouragement that the cryptocurrency is definitely an asset,
if not a viable currency.

O’Leary was quick to point out that those wanting to invest in
Bitcoin but who don’t understand it may create a ‘cocktail for
disaster.’ He said:

“I’m quite sure that 99 percent of the people that own
Bitcoin do not understand how it works. That always is a
cocktail for disaster. You should never invest in something
you don’t understand.”

Not a viable currency, but successful asset

Additionally, O’Leary made it clear that, at this stage,
Bitcoin is not suitable as a currency for transactions. In his own
experience, he was unable to complete a $200,000 transaction
because the other party was concerned over volatility.

Nevertheless, the famous investor was not completely down on
Bitcoin either. He views the cryptocurrency as one of the
most successful assets in the world, based on
global speculation. 

In the final analysis, he concluded, Bitcoin may go up or down,
and so it’s more of a gamble than an investment. He advises
investors to only put in what they can afford to lose, saying:

“I don’t know if it is going to $40,000 or zero, and nobody
knows. So, I just think it is a wonderful entertainment, just
like a slot machine is, or putting chips on a roulette wheel.
Right now it is fun, exciting, entertaining. As long as you
can afford to lose everything you put into it, go with it.”

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Credits : https://cointelegraph.com/news/lights-camera-crypto-advertising-campaigns-for-new-money

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