From Garbage to Wonderful, Bitcoin is here to stay.

in LeoFinance2 months ago

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"Bitcoin is a useless currency"

Bitcoin is a giant nothing burger"

“To me, it’s garbage, because you can’t get in and out of it in large amounts.”
Shark Tank's Mr. Wonderful


Less than two years ago Shark Tank's Mr. Wonderful shared his dislike for Bitcoin and said it offers no value.

Today though, he has had a complete change in his point of view recently stating “I actually think that digital currencies are here to stay” and going so far to invest 3% of his net worth (~$400M USD).

A big factor in his change of view is the believe that big institutions are willing to hold through the most volatile times.

"I am fascinated. I’m investing. I’m holding a 3% weighting in it between ethereum and bitcoin. The volatility sickens me but I’m getting used to it."
Shark Tank's Mr. Wonderful

Mr. Wonderful isn't the only one having a change of heart. Elon Musk recently sent the Bitcoin market into hyperdrive when he announced his support for Bitcoin and invested $1.5 billion under his Tesla brand.

Everyone is talking about Bitcoin today, the big investors are buying more, and large institutions are looking at how they can work Bitcoin into their portfolio. Even governments are looking at cryptocurrencies as a way to help their national debt.

Cryptocurrencies are becoming the biggest game changer in the last 100 years. I'm still waiting to hear Warren Buffet to come around to crypto.

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Less than two years ago Shark Tank's Mr. Wonderful shared his dislike for Bitcoin and said it offers no value. Today though, he has had a complete change in his point of view recently stating “” and going so far to invest 3% of his net worth (~$400M USD). A big factor in his change of view is the believe that big institutions are willing to hold through the most volatile times. “” Mr. Wonderful isn't the only one having a change of heart. Elon Musk recently sent the Bitcoin market into hyperdrive when he announced his support for Bitcoin and invested $1.5 billion under his Tesla brand. Everyone is talking about Bitcoin today, the big investors are buying more, and large institutions are looking at how they can work Bitcoin into their portfolio. Even governments are looking at cryptocurrencies as a way to help their national debt. Cryptocurrencies are becoming the biggest game changer in the last 100 years. I'm still waiting to hear Warren Buffet to come around to crypto.

Who needs crypto gains when that many words earns $58 in just 3 hours?

I think the recent pullback was due, and was in part caused by the hype mentioned above. Now that it's consolidating through price and time, when it breaks into the 50,000s again it will probably surge fairly quickly to $80k or so.

Then at some point there will be a long bear market (a year or more), followed by another huge bull run to ATHs. Bitcoin should go well into the 6 digits, and who knows where HIVE will end up at that point. Hopefully it stops going down whenever BTC goes up, so that we don't end up at 0.00000002 when BTC hits a million!

Altcoins in general are about to have their day in the sun. Anything that has value and a community (HIVE included) should do well for the next 6-12 months IMO.

not sure what Kevins plan is, but he was always bullish on Bitcoin

The funny part is O'leary said he was ready to put 5% of his net worth into Bitcoin at 10k bitcoin, but said he was waiting for a Bitcoin ETF (2 Bitcoin ETF products have launched on Canadian exchanges this month) because he would only be comfortable using an ETF to custody his coins. Bitcoin 4x'd from the time he said he was ready to the time the first ETF launched in February. People buy Bitcoin for the price they deserve to buy Bitcoin at.

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People buy Bitcoin for the price they deserve to buy Bitcoin at.

Very well said. I even quoted you in my comment. :-)

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Ha Bro totally missed out investing years ago ;)

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I am not sure about bitcoin, but yes, you are just a garbage.

Aww thanks!

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Any one joins if a certain market size is it hit. Classic.
Welcome!

The dominoes are starting to fall.

I'm still waiting to hear Warren Buffet to come around to crypto.

I'm waiting for Apple. If Apple does what Tesla did, then it's pretty much game, set, match for crypto.

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Many big companies also change mind after seeing how bitcoin is stronger than other curencies in the world. it is a proof that old financial system has reached the old-fashioned time

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You can see his an old head who has been investing in a world of low-interest rates and stonks always go up and can't handle real volatility. I hope his weak ass hands drop the ball when the bears come to town lol!

I think its a good thing, that older investors are conditioned to a fake ass market so they see Bitcoin as nuts, giving us more time to pick up the good stuff while they live in a fantasy land with their stonks and negative yeilding bonds

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This piece is really helpful, thanks for this I am going into Bitcoin as well

He needed two years to change his mind, but good thing he did.

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Another bull to the herd! I agree with another commenter when he says "people buy bitcoin for the price they deserve to buy bitcoin at". But it's also true that they pay what they pay for less risk. There's no question buying Bitcoin today holds less risk than it did even last year. The downside is still the same: it could go to zero. But that's a lot less likely to happen with the kind of belief and institutional players now in the market. It was way more possible before these players bought in and it was trading at $5000. In my opinion, its still an easy 10x from here vs a negative .5x in fiat.

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You had to add a link to a satire article...you couldn't help yourself right?

Well, this life is "taste and see".
BTC has come to stay and nothing is likely to stop it from being the most valuable token in the cryptospace.
I'm happy that he has got some sensitive perception for BTC. It could taste like pizza for him. Lol

A guy like buffet would snipe in a bear market + make bad press about it before :)

After he has a position it is the best asset :P

All I remember is this guy's angry face bashing Bitcoin and cryptos on CNBC. What a turnaround this has been for him!

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A big name coming to the right side! Seeing traditional businessmen coming to the realization that they have to get on the rocket immediately is a crazy sight.

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Time would tell if a new idea or technology is worth investing. Many people ridiculed it but rights now, I see a lot of tycoons having a change of heart with what bitcoin and cryptocurrency can bring to global economy.

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Wow, I guess everybody is jumping on the bandwagon eh. Time to buy

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It’s never too late to start buying Bitcoin.

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