CNBC’s ‘Shark Tank’ Kevin O’Leary Calls Bitcoin ‘Rogue Currency’ in Debate Against Circle CEO

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Thu, 07/04/2019 - 09:00
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Yuri Molchan
CNBC’s well-known Mr. Wonderful once again criticizes Bitcoin, calling it a rogue currency for lack of serious adoption from law abiding institutions
CNBC’s ‘Shark Tank’ Kevin O’Leary Calls Bitcoin ‘Rogue Currency’ in Debate Against Circle CEO
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In a recent CNBC Squawk Box show, the famous investor and host of ‘Shark Tank’, Kevin O’Leary, disputes against Circle CEO Jeremy Allaire. Circle has already successfully launched the USDC stablecoin in cooperation with Coinbase.

While Allaire was peacefully responding to O’Leary’s arguments, the latter kept arguing quite aggressively that since you cannot pay taxes in Bitcoin, it is noncompliant and therefore criminal. A ‘rogue currency’, as he called it.

Mr. Wonderful bashes Bitcoin

That was not the first (probably not the last either) time O’Leary had publicly criticized the major digital coin along with the whole cryptocurrency sphere.

Previously, U.Today reported about his public debates with Anthony Pompliano, a famous crypto bull, podcaster and a co-founder of Morgan Creek Digital.

This time, O’Leary began going at Jeremy Allaire, who looked shy under the avalanche of his opponent’s anti-crypto machine-gun fire.

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No tax paying option – no legal approval

The Circle CEO tried to explain that stablecoins are very efficient for online transfers and can be converted back to USD at any moment.

That did not convince O’Leary, though, since he wants it all at once – being able to pay taxes with a currency seems to be the only sign it is legitimate and compliant.

It is a rogue currency, says O’Leary, also asking when the time that he would be able to pay his taxes in crypto would finally arrive in France, Switzerland or anywhere else and not getting a reply that would satisfy him.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.

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