Dmitri Love is the founder of Bundil, an app that allows people to make micro-investments in cryptocurrencies. He’s appeared on Shark Tank and secured a $100,000 investment by Kevin O’Leary. In this interview, Dmitri shares his thoughts on Bitcoin investing and upcoming updates for Bundil.
1. Hey Dmitri, thanks for doing this Q&A. Could you tell everyone about what you’re working on?
Sure. Bundil is a mobile application that invests users spare change from debit and credit card purchases into cryptocurrency.
2. Mind briefly sharing the story behind Bundil?
Of course! Originally, I was a biochemistry major. I had a terrible knee injury while playing competitive soccer at my university and it put me down for 9 months. During that time I taught myself how to code and ended up becoming a software engineer. I was already fascinated with the underlying blockchain technology so I had been brainstorming ideas in the space for some time. One day my mother asked me how to buy bitcoin, and once I realized that using an exchange was too difficult for her, I had the idea to apply the micro-investment model to crypto.
3. A lot of people say that Bundil’s “breakout growth” was after the Shark Tank episode was aired. Did you receive a massive amount of app downloads after the airing of the episode?
Those people would be correct. We barely had an MVP created when Shark Tank contacted us. We did in fact receive thousands of downloads since airing.
4. Why would someone use an app like Bundil over another competitor in this space like Acrons?
Well Acorns has no interest in cryptocurrency as they have stated in their blog. They only invest spare change into commodity assets. Bundil allows users to invest in crypto and much more.
5. Bitcoin prices have been sinking this past week. What are your thoughts on that? Do you think it will recover?
Definitely. Many people don’t think about the market in totality. What goes up must come down, what comes down must go up. Volatility is an adjective for a reason. I think it’s a little silly that so many people are panicking instead of researching data. Bitcoin is down 75% from its all time high and its still the best performing asset class in the last 5 years. And I think that speaks for itself.
6. What are some future growth plans for Bundil?
In upcoming weeks we are rolling out some really exciting features. One of which is our savings feature, where users will be able to round their spare change into a savings account. This will allow an even easier barrier to entry for people that are still shy of crypto, and hopefully move the space toward mass adoption.
7. I recently asked a friend if they would be interested in using Bundil to build up their cryptocurrency portfolio and he said that he doesn’t believe in Bitcoin. Do you come across that a lot? What do you think the market is lacking in terms of worldwide adoption?
I do come across that sentiment a lot, but once they have a conversation with me it goes away pretty quickly haha. Believing in Bitcoin and believing in the blockchain are totally different things. I think the market is slowly trending toward mass adoption with big names adopting the blockchain. The only thing I think the market is lacking is just speed. Institutional investors are what drive adoption so the more big names that hop on board, the more adopted the technology will be.
8. Aside from Bundil, do you invest in cryptocurrencies yourself? What’s your favorite cryptocurrency?
I made a choice in the beginning to focus on Bundil, and give up my love for investing. I want to spend all my time, effort, and money building this platform to its potential and that requires some unfortunate sacrifices. However, I am very much interested in XRP. I think their idea is fantastic.
9. Last question! Here’s a fun one, what do you like to do for fun? 😀
I love to snowboard, play piano, and golf. In that order.
10. Thanks Dmitri! Could you tell us how we could contact you?
No problem! Feel free to email me directly at email@example.com.