Despite the fact that prices are always volatile and regulatory and regulatory concerns are bound by banks, bitcoin remains one of the most popular assets in the market. The current. From Warren Buffett to the athletes attending the Winter Olympics in Korea, everyone talks about bitcoin.
Here is the advice of the top “sharks” of Wall Street about bitcoin investment.
Kevin once shared on CNBC that he noticed a huge problem with bitcoin investors. “I’m sure 99% of people who own bitcoin don’t understand how it actually works. It was always a pre-disaster cocktail, ”he said.
Kevin’s advice to investors is that you first need to understand that bitcoin is an asset, not a currency. Through it, he wanted to emphasize that the sudden increase or decrease in the price of bitcoin – or volatility – makes it difficult to be used as a currency in transactions.
Specifically, O’Leary explained that he recently tried to execute a $ 200,000 bitcoin-related transaction. The other party only agreed if he was willing to secure the value of bitcoin against the US dollar, because they feared that bitcoin would again fluctuate in price before the transaction is completed.
“Obviously neither side thinks that bitcoin is stable enough to be able to do transactions in just one minute; and they don’t even want to risk a risky minute. After all, bitcoin is not a currency ”. Kevin O’Leary said.
For real estate queen Barbara Corcoran, bitcoin is interesting, but it’s completely impractical.
“I think bitcoin and many other digital currencies are very complicated to circulate on a daily basis”, Corcoran shared on CNBC.
“I think bitcoin – like any other digital currency – will disappear. It will be very interesting for us to follow every day, even if we wake up someday and see bitcoin has risen to $ 60,000 if there are enough institutions or individual investors with strong financial resources. invest. But it will only serve as a novelty jewelry or for those who want to do underground transactions. Even if we do not like the dollar, I think bitcoin is difficult to circulate everywhere, “said the queen of real estate.
Robert Herjavec – CEO of digital security group Herjavec Group, has a rather optimistic view on the future of digital currencies.
“For me, it is the wave of the future. Over the next 25 years, there will inevitably be a few new cryptocurrencies that can be used with electronic payments, and one day the concept of cash will completely disappear. This brings many benefits to people and in all forms of transactions, ”said Hejiavec, admitting that up until now, he was still not a bitcoin investor.
“Cryptocurrencies are the hacker’s options for trading and raising capital. And since we are good citizens, I cannot stick to them. I think without cryptocurrencies, there would be no horrible hacks that we are seeing right now, ”said CEO Hejiavec Group.
Billionaire Richard Branson started investing in bitcoin a few years ago.
“I put a little bit of money into bitcoin because I wanted to learn about it. And I think whatever bitcoin is, it will become a global currency, ”Branson said, emphasizing,“ For those who can invest a little in bitcoin, it’s worth getting in. ”
In 2013, Brason announced that his space exploration company Virgin Galactic was accepting bitcoin payments for a passenger in Hawaii to book a space expedition. Or the Winklevoss brothers – the first bitcoin billionaires in the world, also used digital money to book reservations with Virgin Galactic.
“I think it is working well. There will be many other such cryptocurrencies, even better, but for the time being, there is an entire industry involved in bitcoin. There are people making billions of dollars from bitcoin, but there are also people who go bankrupt because of bitcoin. It’s quite volatile, but it is in uncertainty that you make money, ”the Virgin billionaire commented on bitcoin in a Bloomberg interview in 2014.
“You have to start learning about it now,” millionaire Daymond John told CNBC, not forgetting to emphasize that he owns two of the hottest cryptocurrencies right now: bitcoin and ethereum.
However, he still has a warning for those who are just starting to invest: It is like any investment, you need to do careful research and always be careful with scammers.
“Say you want to invest in crypto or technology stocks or real estate, there are a lot of things you need to know. If you don’t invest in yourself (learning) first, I can sell you whatever I want. Remember that every money transaction, no matter what form, is essentially a transaction for someone’s profit. What other people sell to you is insecurity, ”said the businessman.
“Whatever you say, bitcoin is still a gamble. Whether it goes up to $ 15,000 or return to zero, and maybe both situations will come together in one day, ”billionaire Mark Cuban commented on bitcoin.
As a tech believer, this billionaire has invested in numerous businesses built on blockchain; and he admitted that he used to buy bitcoin.
However, if you want advice on whether to invest in bitcoin or not, Mark Cuban says “just use the money you are not afraid of losing.”
“If you’re a real adventurer and you’re willing to throw your money away, you could try putting 10% of your savings in bitcoin or ethereum. But once you’ve done that, you always have to pretend you’ve lost money, ”emphasized Cuban.