Kevin O’Leary Invests $100,000 In Bitcoin Investing App
Bitcoin Investing App – Checking Shark Tank’s investor lineup, Mark Cuban has more tendencies of investing in blockchain technologies. He has however invested in several including the untraceable messaging platform Dust and being an advisor on the Mercury protocol, he said he has already invested in a similar platform to Bundil and passed on the offer.
Kevin O’Leary who is often mocked by his fellow Shark Tank investors because he rarely actually strikes a deal on the show being that all the other sharks backed out, O’Leary was Bundil creator Dmitri Love’s last hope. Love was offering a 10% stake in his company for $100,000, thereby valuing the application at $1 million.
O’Leary asked “Which cryptos does it support?” Love replied that it supports Bitcoin, Litecoin, and Ethereum. O’Leary was no nicer to Love than he is to anyone, and demanded 50% of the company in exchange for $100,000, effectively devaluing the company by 80%. He said, “You are going to fail within 36 months.” Matt Higgins suggested that Love should partner with existing exchanges to expand his reach.
After all the other sharks had backed out, O’Leary reiterated that he would be a 50/50 partner at $100,000, or he would also back out. Love seemed displeased with the offer, noting that “50% is a lot,” but ultimately accepted the investment from Kevin O’Leary.
Love created Bundil as an answer to friends and family who continually pestered him about the perils of investing in cryptocurrency.
Love told the sharks:
“I thought, ‘Man, you know, anyone that’s trying to invest in cryptocurrency has to go through all these steps to try to figure out how to buy it. And I thought there could be an easier way for it to be done.”