Billionaire Mark Cuban thinks Ethereum is the closest thing to a real currency and sees Bitcoin as the best alternative to gold.
The Shark Tank and Dallas Mavericks co-owner made his comments as a guest on a recent episode of the Delphi Podcast, where he noted that the rise of DeFi and NFT has him excited about crypto-currencies. He explained that smart contracts and the fact that they are decentralized means that there is no one in charge, the management is totally different. It was a game changer.
In fact, he compared the development of Ethereum smart contracts to the Internet boom of the late 1990s and early 2000s:
When the Internet came along, we saw all these applications that could disrupt what was happening in the analog world, for example. B. when we started streaming because I wanted to listen to Indiana University basketball, which I couldn’t do on the radio in Dallas.
Despite the Cuban bulls in Ethereum, he revealed that his wallet has doubled from Bitcoins to Ethereum: 60% Bitcoins, 30% Ethereum and 10% the rest.
The Mavs owner makes no comparisons to bitcoin when it comes to the Internet boom, which he sees primarily as a store of value. He thinks bitcoin is the best investment alternative to gold:
You can use bitcoin to transfer money. And it was great. That’s right. And that was the cost of the store, and it was great. It is the best alternative to gold, which is phenomenal. It diverts money from gold and will continue to do so. And so I own bitcoins, but that’s one thing, it’s not really anything like the internet.
The billionaire who said in September 2019, I’d rather have bananas than bitcoin, has since completely changed his mind. However, he may have been more involved than these comments suggest, after he tweeted earlier in January that: I still have crypto from the early days of Coinbase. I’ve never sold anything.
I don’t think people realize that I’ve been trying to test and use all those things for years. I still have crypto from the early days of Coinbase. I’ve never sold anything.
– Mark Cuban (@mcuban) January 12, 2021
Although Cuban did not reveal the rest of his portfolio, part of it could be Dozh after the Shark Tank investor projected a scenario in which Dozh would hit $1.
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