Billionaire investor shares how he sees crypto shaping the future
Business titan and billionaire investor Mark Cuban joined Granthshala Business on Monday, sharing his thoughts on how not all digital currencies are the same and how cryptocurrencies could shape the future.
“Bitcoin is a completely different animal as a crypto,” Cuban told host Neil Cavuto on “Cavuto: Coast-to-Coast.”
“Bitcoin is a great alternative store of value,” said the owner of the Dallas Mavericks. “I think it’s a better option than gold, but not all crypto is equal. You put bitcoin in the stored-value category, then you move on to things like Ethereum.”
“Ethereum is a really important network, and because of their ability to deliver smart contracts and their security and management, I think you’re going to see a lot of unique business applications,” Cuban said, before elaborating, .
“I’m investing in things like decentralized insurance applications, decentralized ways of distributing NFTs, which allow things like 3-D printing files, textbooks – many different applications,” he revealed. “It’s very similar to what we saw in the early days of the Internet when we went from analog to digital.”
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The owner of the Dallas Mavericks admitted that his sports team accepts cryptocurrencies as payment for tickets and merchandise, but noted, “Not many people pay in bitcoin because it’s a really laudable asset.”
But, “a lot of people are paying [with] Dogecoin,” Cuban said. “We sell thousands and thousands of dollars per month during the off-season, and once the season starts I expect Dogecoin to have that per week – and that’s really because it’s It’s easy to spend, not to appreciate so much that people want to keep it forever.”
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Cuban revealed that he personally has about $1,500 in Dogecoin “for fun”, adding, “I’ve never told anyone it’s a great investment, I’ve often said that it’s a great way to understand.” That’s how cryptocurrency works, how to invest in the market.”
He adds, “If you’re trying to drive home it’s a better investment than a lottery ticket.”