The investor sharks on ABC’s hit show “Shark Tank” for new businesses might be ruthless, however one of them has a soft spot for Bitcoin. A Shark investor, Robert Herjavec, was featured in a segment on valuable metal company Kitco’s news program and accepted the chance to pronounce his support for the leading digital currency over gold.
In the interim, the Bitcoin vs Gold discussion was warmed up recently, as financial specialists gauge safe-haven assets given the negative impact that the spread of the coronavirus has had on stocks. Herjavec, whose rags to riches story began in Croatia before he moved to Canada, is inclined toward Bitcoin over gold, saying that he’s not a big believer in gold as a hedge against these business sectors except for the transient standpoint.
Adding insult to the already painful situation for gold investors, Herjavec proclaimed that he’s a big believer in Bitcoin, which is all the BTC bulls needed to where while no doubt crushing to the Kitco audience. Not only this, but he would be a buyer of Bitcoin at these bargain levels, with the more extensive digital currency market as of now reeling and the Bitcoin cost distancing itself further from the subtle $10,000 threshold.
“I think the price of Bitcoin on a long-term basis will quintuple,” adding that a $100,000 and $1 million Bitcoin price “doesn’t sound crazy.”
He proposed that consumers will flock to the cryptocurrency in the long run, adding –
“Bitcoin is just convenient.”
The responses to Herjavec’s bullish viewpoint poured in on a Reddit thread, the best of which must be by part “TheGreatCryptopo,” who remarked –
“This shark is a secret whale!!!!”
The shark’s view on BTC wasn’t all blushing, notwithstanding. While he’s bullish about electronic payments, he keeps up the market and has a long way to go. Herjavec, who is likewise in charge of Herjavec Group, describes the digital currency market as a “divided industry,” highlighting altcoins and recommending that investors be cautions.