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In a new episode of Shark Tank, a start-up in the crypto space appeared in front of the world’s most famous venture capitalists Kevin O’Leary, Lori Greiner, Mark Cuban, and Daymond John. The founder of the Bundil LLC pitched his business to the sharks seeking an investment and secured a deal with Kevin O’Leary who now owns 50% equity in the company. In the episode the sharks made some statements about cryptocurrency which is also interesting to see. It’s definitely worth mentioning because of the level of success they have in investing and venture capitalism.
Daymond John didn’t make an offer but he seemed very optimistic about cryptocurrency as he stated, “I think the digital currency space is here to stay.”
Lori Greiner didn’t make an offer because she still is unsure of the cryptocurrency wave and she said, “I’m still on the crypto fence.”
Mr. Wonderful, Kevin O’Leary seemed very excited after closing the deal and proudly said, “I don’t do good deals, I do great deals.”
It’s great to see cryptocurrency acknowledged on national television, especially on a leading network like ABC.
Let’s get straight into the Shark Tank episode. Dmitri Love pitched his company which is an app by the name of Bundil. The mobile app lets users invest their spare change every day into cryptocurrency. The Bundil app works by tracking your daily purchases and only invests the change from your transactions. The app rounds off the amount to the nearest dollar of each transaction and invests the remaining change into cryptocurrency. For example if you buy a pizza for $2.75 USD, the app will invest the change which is 0.25 cents to your digital wallet.
Currently Bundil supports Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). The app is great for people without any investing experience looking to get in crypto. During the presentation, Kevin O’Leary offered $100,000 in exchange for 50% ownership in the company. Dmitri was hesitant at first but eventually agreed to do the deal, marking the first crypto deal to take place on Shark Tank.
It’s always great to see new innovations in the cryptocurrency space that help the network grow. Without a doubt, it’s exciting to watch adoption of cryptocurrency in new use cases. The Bundil app isn’t the only new project helping cryptocurrency lately. October has been a very progressive month with many significant developments. Last week we saw an electric powered bicycle that accepts Bitcoin and Litecoin payments for rental use. Also a new shopping app called Bitplaza just launched on the Apple App Store and Google Play. The Bitplaza app lets users spend Bitcoin to buy physical goods and supports international shipping. It’s interesting to see new projects catering to the Bitcoin community and demonstrating Bitcoin as a true global currency.
Despite the price drops in cryptocurrency this year, the crypto network itself has made a lot of progress and cryptocurrency is becoming easier to use with every new invention. As companies build new technology around cryptocurrency, it becomes more useful, valuable and continues to keep crypto thriving.