Kevin O'Leary Talks Bitcoin's Rise

Bitcoin and cryptocurrencies have broken records this year as more investors, particularly millennials, flock into the market. The leading digital currency bitcoin has managed to rally significantly this, rising to an all-time high of nearly $8,000 and up over 500% year to date. But, one famed investor remains a little skeptical about the future of bitcoin. “Bitcoin to me isn’t a currency, it’s an asset,” Kevin O’Leary, chairman of O’Shares ETF Investments and star of ABC’s Shark Tank, told Kitco News. “I’m not sure bitcoin is a great long term investment because I don’t know what’s going to happen to it.” Instead, O’Leary said he prefers to stick with what he knows. “I do know a company that makes free cash flow that pays you a dividend every quarter. To me, that is a good idea, I love my dividends.” O’Leary recently launched an app called Beanstox, which aims at attracting millennial investors by providing fractional share ownership.

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