Shark Tank Investor Slams Bitcoin, Crypto: “Not An Institutional Product”

Bitcoin in 2020 has finally attracted institutional investors with serious wealth and capital to throw around. And it is exactly why the leading cryptocurrency is trading well above its previous peak set in 2017.

But why then, is one of the world’s most “wonderful” investors and TV show “shark” claiming that crypto is “not an institutional product” based on his purchase of the emerging assets made back then?

How To Get Free Crypto  

Kevin O’Leary: Crypto Is Completely Irrelevant To Institutions

The biggest narrative driving Bitcoin’s bull run in 2020, has been the sudden interest from institutional investors finally considering the cryptocurrency as a store of value and a way to protect against inflation.

Reloads and free spins available every day, for every player, in mBitcasino Crypto Autumn Bonanza! Play Now!

These uses, however, are still developing. But the asset’s potential suggests it could either result in total failure, or complete disruption of the current financial system.

Related Reading | Bitcoin Dominance In December: Why The Future Of Altcoins Hinge On This Month’s Close

For whatever reason, for the first time in its history of the asset, well-known figures in finance are talking about Bitcoin, buying BTC, and telling others why they should do the same.

Yet, Mr. Wonderful himself, Kevin O’Leary, known for his role on TV’s Shark Tank or in the finance world for his investments, says that crypto – including Bitcoin – is “not an institutional product.”

Coinbase Banner  

Institutions have been behind the recent Bitcoin uptrend | Source: BTCUSD on

Shark Tank Star Admits Bitcoin Might Be Different, Swims With Peers Call That It Bananas

Weeks ago, while joining Bitcoin mouthpiece Anthony Pompliano on his podcast, Shark Tank star Kevin O’Leary had begun to warm up to the top crypto. However, he says he’s already long been a “cryptonian” since 2017.

At that time, he bought a variety of Bitcoin, Ethereum, XRP, and other coins available at the time for “fun.” He only spent $100, which is now worth approximately half of what he put in initially.

Using the example, he admits that maybe Bitcoin is different, but that the cryptocurrency is “insignificant” to the greater financial market and the institutional crowd.

Related Reading | Bananas! Billionaire Shark Mark Cuban Calls Bitcoin More Religion Than Solution

He warns that because of potential regulation, institutions won’t want to get caught with their pants down, or worse yet, more and more funds pile in and when the government finally pulls the rug, the “mother of all” class action lawsuits will result.

FreeBitcoin Banner  

For those reasons, he’s “out” on Bitcoin. O’Leary isn’t the only Shark Tank investor to be skeptical of crypto either. Mark Cuban claims he’d rather own bananas over Bitcoin. That leaves a few sharks still potentially “in” – which is the next in the tank to take a bite out of Bitcoin?

Featured image from Deposit Photos, Charts from

Go to Source
Author: Tony Spilotro

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.