Shark Tank Investor Kevin O’Leary Invests In Bitcoin Micro-Investment App Bundil

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Did you know that you can invest in Bitcoin (BTC) and other crypto assets with that spare change with the help of apps like Bundil?

Yes, you can and Shark Tank’s most prolific personality, Kevin O’Leary, is fond of the idea and project having reportedly invested $100,000.

Shark Tank’s Kevin O’Leary invests in Bundil

Crypto entrepreneur Dmitri Love approached the Tank in need of an investment of $100,000 in exchange for 10% equity in Bundil, a company whose product that helps turn a person’s spare change into a crypto investment.

Kevin O’Leary offered to invest in the company, giving Love an offer of $100,000 for a 50% stake. Love, the CEO of Bundil accepted the deal, walking away with a six-figure investment shot for his startup.

O’Leary was Love’s last hope for a deal after all the other sharks dropped out citing various reasons:

  • Lori Greiner said he wasn’t sold on cryptocurrency as an investment;
  • Mark Cuban said he already had a similar investment;
  • Daymond John and Matt Higgins dropped out citing the high volatility of digital currencies;

Even though he struck a deal with Bundil, O’Leary had expressed a general shortfall of many of the passive and micro-investment apps that come to the market – they do not have a long lifespan and almost 80 percent of them fade off within three years.

He, therefore, told Dmitri to take the 50 percent equity deal, jokingly pointing out that the company would likely “fail within thirty-six months.”

How does Bundil work?

The Bundil app uses innovative technology to help a consumer invest their spare change into digital assets when they use credit or debit cards to make various purchases.

To make this possible, the app rounds up your daily expenditure to the nearest dollar. The app collects the resulting spare change from your transactions and micro-invests it into a digital currency of the user’s choice, including Bitcoin (BTC), Ethereum (ETH), LiteCoin (LTC) and BitcoinCash (BCH).

For example, if you purchased items worth $29.55, Bundil would round it up to $30. It would then invest the 45 cents into cryptocurrencies. It, therefore, means that an individual has the opportunity to invest little amounts of money into crypto and watch it grow.

Bundil is a subscription-based app and will charge users $3 a month or $24 for an annual subscription.

Crypto investment using Micro-apps

Everyone that seeks to invest in cryptocurrency needs to observe at least one unwritten rule: invest into crypto only that which you can afford to lose.

In other words, there are risks involved and putting all your money into bitcoin and altcoins could turn out to be catastrophic.

Again, risking your hard-earned real money on an investment you don’t understand isn’t prudent. But what if you had the opportunity to invest that little change, often cents, into bitcoin?

Using a micro-investment app like Bundil could be a great way to warm your way into crypto.

While investing into crypto can be daunting and confusing, ingenious entrepreneurs have all along tried to simplify the process for the ordinary would-be investor.

One such app was the Lawnmower.io, app that enabled users to buy small amounts of bitcoin using their spare change. Another example is the Acorns app that allows users to invest tiny amounts into traditional stocks.

In 2017, investor Mark Cuban injected $250,000 in ChangED, a Bundil-like app that allows users to service student loans using spare change from crypto transactions. The app helped users pay up to $1 million in loans at the time.

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