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- 1 Famous billionaire Mark Cuban has shown huge interest in the crypto industry.
- 2 He has always trusted Bitcoin, Ethereum and some other coins as a safe mode of investment.
Featured in Shark Tank, Mark Cuban is a television personality, entrepreneur, and a media proprietor who is trusted by many for his financial advice. He is a cryptocurrency fan and also indicates that he is a big investor in Bitcoin.
He was born on July 31, 1958 in Pittsburg (U.S.), but was raised in Mt. Lebanon. In 1955, he formed Internet audio and video streaming service Broadcast.com. As a basketball fan, hee acquired the Dallas Mavericks of the National BasketBall Association (NBA).
Cuban has always considered that Bitcoin is safer than gold for investments. Furthermore, he has pointed out that if there is an economic crisis, then the gold bar can be taken back, but investments made in Bitcoin are much safer.
Investments of Mark Cuban
Once, Mark Cuban had appeared in a podcast run by comedian Bill Maher where he raised his concern regarding Bill’s investment in gold, which he thinks is not the appropriate decision. He added that there is the risk of gold being stolen, whereas Bitcoin is protected by digital ledger. He also declared in Shark Tank that 80% of his investments are in crypto.
Cuban also said that a decentralized autonomous organization (DAO) has also gained his attention. DAO is a member owned community which does not have any center leadership. He has a belief that a game changing business will come through these organizations.
However, he has emphasized that the crypto field is hard to understand and invest in, suggesting never to invest large amounts and to always start with a lesser amount, even as less as $5 in order to learn.
Cuban is bemused by the capabilities of smart contracts. He has invested mainly in Bitcoin and Ethereum, which are the largest cryptocurrencies, as per their market cap utilizations. He has made it clear that he had bought Dogecoin when it was less than a penny for his son Jake, and that was just for fun and educational purposes. He never invested big amounts in that.
Overall, it is understood that Cuban is a big crypto fan. He showcased his interest in this field openly many times. He has invested in six cryptocurrencies besides Bitcoin and Ethereum, namely, Apecoin (APE), Alethia Artificial Liquid Intelligence, Ocean Protocol, Klima DAO (KLIMA), Blockto (BLT) and Injective Protocol.
Apecoin (APE): Mark Cuban holds Ape Tokens which is the native token of Bored Ape Yacht Club (BAYC). Although he says he is not a fan of BAYC land sale. He labeled buying real estate in the metaverse.
Alethia Artificial Liquid Intelligence (ALI): It uses the AI capabilities to avoid malicious activities, and is intended to build a metaverse populated with interactive and intelligent NFTs. Mark Cuban has a view that integrating AI with NFTs to build digital avatars will be beneficial.
Ocean Protocol (OCEAN): It is a protocol that connects data providers and consumers in a blockchain based marketplace. This provides the efficiency of data at one place for the consumers. Also, it helps in easy monetization with the help of data.
Injective Protocol: It is an accessible altcoin in Cuban’s list. It has advanced features like margin and derivatives. It operates across different blockchains.
Blockto (BLT): Cuban invested in Blockto in 2021. It is a cross chain smart contract wallet. He also plays the role of strategic advisor which permits the people to access NFTs, crypto, and dApps on Solana, Avalanche, Ethereum, Tron etc.
Klima DAO: It offers tokenized carbon credits. Cuban says that it is easier for him to offset his carbon through KLIMA.
Summary
Mark Cuban is a very influential figure with a huge interest in the crypto industry. Despite his presence, it is advisable to invest in crypto after having full knowledge of cryptocurrencies, as the crypto market is very volatile. It may possess some risks and sometimes may result in profit. The billionaire has always advised to start investing and learning crypto by investing small amounts.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
