Mark Cuban sees potential in Cryptocurrencies

Mark Cuban is optimistic about cryptocurrencies, sees a bright future in them.
  • Mark Cuban, a billionaire investor, has invested in various forms of currencies like bitcoin, Ethereum, and Dogecoin
  • He has invested 60% in Bitcoin, 40% in Ethereum, and 10% in other cryptocurrencies. 
  • Cuban sees bitcoin as a better alternative to gold which is going to continue to increase
  • Cuban believed in smart contracts, and he believes that they have the potential to change everything

Mark Cuban is a billionaire investor looking to invest in varied modes of currencies and businesses and just so for the experience and learn new ways of making money. 

Cuban shares his thoughts in a Podcast 

In a recent appearance on “The Delphi Podcast,” Cuban shares his thoughts on cryptocurrency and feels that he is very bullish on the future of cryptocurrency and compares blockchain technology to the early days of the internet. 

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This is why Cuban has held on to the few digital coins he bought in the early days. He is currently holding 60% bitcoin, 30% Ethereum, and 10% of the rest. For Cuban, bitcoin is a store of value rather than a currency. Bitcoin was formed in 2009. It is the largest cryptocurrency by market value. 

Cuban said that In 2012 people used to say that bitcoin is a currency, but he felt that it is more like a store of value. It can be the best alternative to gold. Due to its algorithmic scarcity, the price is going to go up. Cuban feels that bitcoin is an excellent alternative to gold which will continue to increase. This is why he has invested in bitcoin and has never tried to sell it off. 

The next token that showed his interest in Ethereum, the blockchain, was ether, the second-largest cryptocurrency after bitcoin. He has built it onto the smart contracts that run on it. Smart contracts act more like a code with a set of instructions and run on the blockchain. 

Cuban believes in smart contracts

He believes that smart contracts have the potential to change everything. With smart contracts, DeFi also came along, and NFTs.

Cuban also believed that Ethereum would be adapted by everyone soon and so Cuban has a lot of Ethereum with him. He said that developers could iterate and improve their capabilities. He started investing in Ethereum very late. Ethereum was launched four years ago. He got interested in the currency because it is the closest to a fiat currency. 

However, Cuban did not talk much about the remaining 10% cryptocurrency he holds. But there is none that Cuban is just all in on, other than bitcoin and Ethereum as he looked at as being on equivalent investment. Cuban had also purchased Dogecoin in February, a cryptocurrency that was started as a joke. He had bought Dogecoin for his 11 years old boy Jake. He had purchased the currency for fun and education for his son while also helping him learn about the space. 

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Andrew Smith
Andrew is a blockchain developer from his education and developed his interest in the cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer.

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