Crypto Billionaire: I’m Buying These 2 Now!

Crypto Billionaire: I’m Buying These 2 Now!
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Mark Cuban, a well-known billionaire in the crypto currency space and a member of the delegation on the TV show Shark Tank, spoke about gold and Bitcoin in a podcast episode. Here are the details…

Billionaire investor defends largest cryptocurrency

Cuban’s comments came on an upcoming episode of comedian Bill Maher’s “Club Random” podcast. The episode is scheduled to air on Monday. The Dallas Mavericks owner said he “wanted Bitcoin to go much lower” so that he could “buy some more.” The prices of some well-known cryptocurrencies have dropped significantly since the beginning of the year. Bitcoin is currently down 65 percent, while Ethereum and Cardano are down over 69-80 percent, respectively.

crypto

In response to Maher saying he’s investing in gold, Cuban said, “You know what? If you have gold, you are an idiot.” He also opposed the idea that investing in it was “a hedge against everything”. “Gold is a store of value and so is Bitcoin,” Cuban told Maher. Later, Cuban said, “Once you have gold, all you have is a digital process.” said. Maher, on the other hand, stated that this is the reason why we are “mostly not under”. Subsequently, Cuban said, “This is okay. I don’t mostly use Bitcoin, do I? This is something that only I have,” he remarked. In addition, Cuban used the following terms:

But it’s a digital process and a store of value – that’s the term for it, a store of value. Because of this, people perceive that there is a price associated with gold and a price associated with Bitcoin.

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Cuban: Bitcoin a viable investment

He also said that while he didn’t tell people to “buy” the cryptocurrency, he thought Bitcoin was a “good investment.” Cuban has weighed in on the cryptocurrency several times in the past, including on the “Cavuto: Coast to Coast” show in February. He talked about crypto-related utilities at the show, saying that Bitcoin is “like an alternative to gold” and “a storehouse of assets.”

Crypto Billionaire: I'm Buying These 2 Now!

He said people should approach investing in crypto like any other asset class, thinking about the “value proposition” and growth opportunities. Last month, amid the ongoing FTX scandal, Cuban told TMZ Sports that he continues to believe in the cryptocurrency. “Just separate the signal from the noise,” Cuban told the outlet. “So many people have made many mistakes, but that doesn’t change its underlying value and practices,” he added.

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