For years it has been mainstream financial institutions’ aim to encourage those within the public without a lot of resources to learn how to save their meagre earnings and invest with them. Enter the lawnmower app, an application that was unveiled just a few years ago to help users purchase Bitcoin through their saved up change.
Crypto Options Available On Bundil
Although the app is no longer available a similar app pitched at the Shark Tank spurring the interest of one of the investors Kevin O’Leary. The offer came however after most of the other investors that the pitcher was going for, backed out without an offer.
Mark Cuban who was seen as the most probable to invest in a Crypto and Blockchain based business passed up the offer after giving his reasons as the fact that he had already invested in various other Blockchain based businesses like Dust which is an untraceable messaging app as well as having a position as an advisor to the Mercury protocol.
Once Kevin O’Leary, who has been a mainstay of the show for a long time, saw that every other investor in the Shark Tank had passed up on the opportunity to invest in the app dubbed Bundil, stepped up to the plate and offered the developer of the app Dmitri Love his asking amount but for a significantly bigger share of the company than the one he had originally offered.
Kevin O’Leary offered $100,000 for fifty percent share of the company, which was an eighty percent devaluation of the company which the creator had originally offered the same amount for ten percent of the company, valuing it at a million dollars. When questioning the creator about the app, O’Leary asked about the Crypto options available on the platform, to which Love responded with Bitcoin, Ethereum and Litecoin.
Fuss Free Passive Investment Option
With the other sharks having backed out of the bidding, O’Leary reiterated that he would be willing to come on board only if he was to be an equal partner for the stated figure, an idea which the creator was not very pleased with but accepted nonetheless after noting that half the company was a lot to put up. On the upside, having accepted the offer means that Bundil now enjoys the support of a seasoned and well-known tech investor.
Love stated that the reason he created the platform was to enable his close family and friends invest in the sector, noting that it was not easy convincing someone to invest a lot of money in a sector that they don’t fully understand to begin with. He stated that through his app it was possible for passive investors to also get into the Crypto market without a lot of fuss on the financial end as they would only be investing what they are comfortable investing.
Crypto Investment For The Cash-Strapped
The Bundil app comes at a cost of $3 per month or $24 annually and allows cautious or cash-strapped investors to gradually grow their Crypto balance.
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Author: Samantha Mitchell