Billionaire Mark Cuban believes that Ethereum is the closest thing we have to becoming a real currency, and he believes that Bitcoin is a better alternative to gold.
The co-owner of Shark Tank and Dallas Mavericks made a comment as a guest on a recent episode of the Delphi Podcast, and he pointed out that the growth of DeFi and NFT made him excited about encryption. He explained that “the fact of smart contracts and their decentralization” means “there is no one in charge, and governance is completely different. That’s why the rules of the game are changed.”
In fact, he compared the development of Ethereum smart contracts with the Internet boom of the late 1
“When the Internet started to happen, you started to see all the applications that could disrupt what was happening in the simulated world, for example when we watched a streaming program, because I wanted to listen to Indiana University basketball games, I couldn’t do it on the radio. This is in Dallas.”
Although the Cuban is bullish on Ethereum, he revealed that his portfolio has doubled the number of Bitcoins compared to Ethereum, “Bitcoin is 60%, Ethereum is 30%, and the rest is 10%.”
The owner of Mavericks did not compare Bitcoin to the Internet boom, because he mainly viewed Bitcoin as a store of value. He believes that Bitcoin is a better investment alternative to gold:
“With Bitcoin, you can transfer money. That’s great. Yes. It’s the value of a store, it’s great. It’s an amazingly better alternative to gold. It’s taking money out of gold.” Let’s go, and it will continue. That’s why I own Bitcoin, butthat’s the same thing, it’s not the real place compared to the Internet.”
The billionaire stated in September 2019 that I would rather eat bananas than Bitcoin. However, in early January this year, he tweeted: “I still own the cryptocurrency from the early days of Coinbase. I have never sold anything.”
I don’t think people will realize that I try to test and use all these things and have used them for many years. From the beginning of the coin library, I still own cryptocurrency.I have never sold anything
-Mark Cuban (@mcuban) January 12, 2021
Although the Cuban did not disclose what the “rest” of his portfolio was, after Shark Tank investors predicted that Dodge would reach $1, part of it might be Dodge.