According to Shark Tank’s Robert Herjavec, Bitcoin is “here to stay” in the long term, cryptocurrency will definitely be regulated, and investors should both get in and get out now, according to an interview with financial news outlet TheStreet.
While Herjavec says that he himself is not an investor in crypto, he predicts that Bitcoin’s price will continue to rise in the short term, even above the January high of 20,000:
“It’ll take out that high, I’m saying it right now.”
He believes that cryptocurrencies should and will be regulated, and that as firm regulation becomes closer to reality, the price of Bitcoin will continue to speculate but then drop way down.
Based on this idea, while maintaining that Bitcoin is around for the long term, Herjavec tells TheStreet that “I don’t know if you want to own Bitcoin right now. I think you want to get in, and you want to get out,” a mentality that is opposed to the traditional crypto geek’s desire to “hodl,” that is hold onto your coins.
Besides Shark Tank, Herjavec is the CEO of the cybersecurity firm the Herjavec Group.
When asked about the security of cryptocurrencies, Herjavic doesn’t think that crypto exchanges themselves are “prone to great security,” referencing the hack of over $500 mln in NEM from the Japanese-based crypto exchange Coincheck last month, but that cryptocurrency transactions are secure.
In answer to a question about the future of Blockchain, Herjavic thinks that Blockchain shows a lot of promise because of its “inherent security of a transaction.” He predicts that 10 years down the line, due to the power of Blockchain:
“I will walk somewhere and a sensor will automatically know it’s me, the sensor will be linked to my bank, it’ll know how much money I have, I’ll pick up something like at the Amazon store, it’ll automatically be scanned, and as I leave, it will automatically be verified and paid for.”