Shark Tank’s Kevin O’Leary Invests $100,000 in Bitcoin Investing App

October 25, 2018

 

For several decades, banks and financial advisors have searched for ways to get those without vast resources to invest and save their money. An early example was Bank of America’s Keep the Change program, which rounded up purchases and moved the change to savings accounts. A few years back, the Lawnmower app came to fruition, enabling users to do a similar thing, except their spare change went to buy a small amount of Bitcoin. It later expanded to allow for numerous blockchain assets, though it is no longer available. In the traditional investing space, the Acorns app is all the rage, enabling users to do the same thing with the traditional stock market.Everyday Americans have been increasingly interested in venture capitalism since the dawn of the dotcom boom, and CNBC’s Shark Tank, now in its tenth season, while a poor example of how VC meetings go, has the popularity to demonstrate this fact. Occasionally, technological innovations cross the stage of Shark Tank, and this week’s episode featured a creation of interest to crypto enthusiasts: the Bundil app, a Lawnmower-style application that enables users to invest their spare change in cryptocurrency.Passive investment options like Bundil and Acorns are an important part of the 21st-century financial landscape. In the past, the best an everyday person could do was hire someone they hoped could manage their money successfully. Too many examples of fraud and theft took place in that era to list. Whenever you put a great deal of value in a centralized location and give one person or a small group of people in full control of it, bad things can and will happen. The era of the blockchain makes such instances rarer. 

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