Rajarshi Mitra
Independent Analyst
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!!!!
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