Although Robert Herjavec , an investor on ABC 's `` Shark Tank , '' expects the price of bitcoin to `` skyrocket , '' he has no plans to personally buy any . That 's because as the CEO of cybersecurity firm Herjavec Group , he does n't want to support the growing trend of hackers using cryptocurrency . `` I ca n't invest in something that my enemy uses as funds , '' he explained on CNBC 's `` Squawk Alley . '' Indeed , `` If there was no cryptocurrency , much of the large hacks that we 're seeing today would n't exist , '' Herjavec told Money . As one example , Herjavec is concerned with the role cryptocurrency plays in ransomware attacks Attack.Ransom . `` Cryptocurrency permits anonymity , '' he explains to CNBC Make It . `` It 's a very popular form of payment for ransomware in particular . '' Ransomware is a type of software that locks or encrypts a computer user 's data and files , in affect holding it hostage . To release the information , a hacker will demand a ransom payment Attack.Ransom . Ransomware attacks Attack.Ransom increased 6,000 percent in 2016 from 2015 , according to a study from IBM Security . And in 2017 , 200,000 computers in 150 countries belonging to businesses , governments and even the U.K. National Health Service were impacted Attack.Ransom by the ransomware virus known as WannaCry . In that case , victims were told to make a payment Attack.Ransom in bitcoin to get their computers back . Hackers often demand the ransom Attack.Ransom be paid in cryptocurrency because it allows them to remain anonymous , Herjavec says . `` I can take over your computer or personal information , hold it for ransom Attack.Ransom , give you instructions on how to create a virtual wallet , force Attack.Ransom you to pay Attack.Ransom me , and you have no way of finding out who I am , '' Herjavec explains . That 's because a bitcoin wallet is only identified by a number , and `` payments are direct without a bank or credit card company acting as the middle man , '' Herjavec says . `` There is no money trail , so it 's very difficult to track back to an individual . '' With WannaCry , the hackers asked for Attack.Ransom $ 300 worth of bitcoin from victims , and if they waited over 72 hours to pay Attack.Ransom , the fine increased to $ 600 . If they waited a week , their information would be locked for good . The Trump administration pointed to North Korea as the originator of the attack . In 2016 , ransomware was used to coerce Hollywood Presbyterian Medical Center , a hospital in Los Angeles , to pay Attack.Ransom 40 bitcoin to hackers , The New York Times reports . That sum was then worth $ 17,000 . Bitcoin closed at $ 10,779.90 on Tuesday , March 6 , according to CoinMarketCap , which makes those 40 coins worth about $ 431,196 . To protect yourself from ransomware attacks Attack.Ransom , take steps to secure your online information . `` Keep your computer and data safe by backing up often , using cloud services with dual factor authentication and complex passwords , '' Herjavec suggests . `` Have anti-virus [ software ] installed and kept up to date . ''