Kevin O’Leary : $400m Hotel Deal Via A Coin Not Shares
Kevin O’Leary, the ‘Shark Tank’ investor with a net work of over $500m, said that one of New York most prestigious hotel will sell ownership via the release of $400m of coins which will give investors ownership of the third of it.
“There’s a big deal coming in New York in the next three weeks,” said the “Shark Tank” investor and chairman of the ETF firm O’Shares Investments. “It’s a $400 million coin issuance for a real asset you’ve heard of.”
“Instead of a stock, a share, it’s a coin. With a smart contract approved by the SEC,” he said. “You will be an owner of a third of this hotel. If it works, it will be the first of its kind.”
“The key is to go to the regulator and say, ‘I want to work with you. I don’t want to tear the world apart. I want to be regulated. I want to do this by the rules,'” he said. “I don’t want to destroy the government. I want to make money.”
Is this the way forward for venture capital? Instead of expensive going to institutional investors companies looking for funding can issue a coin and tap into the retail market directly?