Shark Tank host prefers Bitcoin to gold
|Robert Herjavec believes that Bitcoin adoption will be boosted when an industry giant like JPMorgan backs it.
He also called the crypto market a “fragmented industry,” pointing to altcoins, urging investors to be careful.
Contributing to the ongoing gold vs Bitcoin debate, Robert Herjavec has declared his support for Bitcoin over the precious metal. Herjavec is a Canadian investor who founded BRAK Systems and co-host of ABC's Shark Tank along with billionaire and noted Bitcoin critic - Mark Cuban. Speaking during a segment in Kitco's news segment, he claimed that he isn't a big believer in gold being a safe haven asset. Praising Bitcoin, Herjavec said:
I think the price of Bitcoin on a long-term basis will quintuple.
He also added that a $100,000 and $1 million Bitcoin price “doesn’t sound crazy," and called Bitcoin "convenient." He also noted he would buy Bitcoin at these bargain levels, with the price dropping below the $10,000-mark.
Herjavec’s views on cryptocurrency were not all positive. While he’s bullish about electronic payments, he believes that the market has a long way to go. He calls the crypto market a “fragmented industry,” pointing to altcoins, urging investors to be careful.
He noted that the adoption of Bitcoin will be boosted when an industry giant like JPMorgan backs it. Herjavec’s stance on Bitcoin received several responses on Reddit. A user who goes by “TheGreatCryptopo,” commented:
This shark is a secret whale!!!!
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.