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Mark Cuban believes that Bitcoin, Ethereum and some altcoins would be able to pull through just like big internet companies of today.
Everybody recognizes Mark Cuban as an American billionaire and owner of Dallas Mavericks, he is also a widely recognized face for being a “shark” on the popular Shark Tank reality TV show. What many may not know is that he occasionally shares his thoughts on the crypto industry and its assets like Bitcoin, Ethereum, DeFi projects and even non-fungible token (NFTs).
This is what he did in a recent interview where he shared his views on the entire crypto industry. According to him, Bitcoin remains a store of value and nothing else. He also noted that investors in BTC could get extremely nervous especially when they have to spend as much as $35k on one unit of the asset. And the volatility that comes with the industry could make some investors “totally freaked out.”
Mark Cuban Shares Thoughts about Crypto Industry
Cuban, during the interview, also likened the current crypto industry to the early stage of the internet stock. He feels that Bitcoin, Ethereum and some altcoins would be able to pull through just like big internet companies of today, the likes of eBay, Amazon and the rest. He confirms that blockchain and Bitcoin however holds limitless potential.
While admitting that he was yet to invest majorly in the crypto space, he however stated that he had been exploring the option. He added that the leading crypto asset and gold have little to no differences. According to Cuban, “no one really needs gold jewelry. Nor does anyone really need BTC.”
The Dallas Mavericks owner advised American citizens to have a digital account that they can use to hold money, stocks, and any digital asset. And that it is very possible for BTC to be valued at $1 million especially if more institutions and retail investors replace gold with the asset. He also added that DeFi could become an alternative to conventional banks especially if it overcomes the regulation troubles and the KYC issues it faces. This would lead to a dramatic change in banking generally.
The American billionaire identified the fact that virtually anything could be sold using NFT. He noted that things like virtual Mavs gear, sneakers, art, pictures, videos, experiences or anything that can be imagined. He also added that the space is something he could be looking to invest in the future especially if the market is created.
I definitely got my share of shitcoins lol.
— Mark Cuban (@mcuban) January 28, 2021
It indicates that the American billionaire might be having a shitload of those coins.
The head of research at The Block, Steven Zheng, discovered another wallet that may be linked to the Mavericks owner. This wallet contains ERC20 tokens like OPEN, HYVE, and MASQ. Combined, these tokens are worth just above half of an Ether token.