“To me, it’s garbage, because you can’t get in and out of it in large amounts,” the “Shark Tank” investor said.
Mr. O’Leary ran into problems when he was unsuccessful at using bitcoin to purchase Swiss real estate. He said the problem is that the bitcoin receiver wants guarantee of the value.
Mr. O’Leary extends his skepticism about bitcoin to all other cryptocurrencies. He told CNBC that he invested $100 in a cryptocurrency, and today it is worth $30.
Bitcoin’s value has risen more than 120 percent since the start of the year, topping more than $8,000 on May 14. This compares to when Bitcoin reached its highest value of around $20,000 in late 2017.
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