Mark Cuban, an American entrepreneur, and owner of the Dallas Mavericks of the NBA thinks bitcoin is a wise investment.
The billionaire hopes that the price of cryptocurrencies will continue to decline so that he may purchase more. In the meantime, he called gold investors “stupid” and humiliated them.
In a forthcoming episode of the Bill Maher-hosted “Club Random” podcast, the Shark Tank celebrity and billionaire owner of the NBA team Dallas Mavericks, Mark Cuban, discussed his views on bitcoin and gold.
Maher declared that he is “extremely anti-bitcoin” and that gold has worth. The owner of the Dallas Mavericks had his opinion on buying gold: “If you have gold, you are dumb as f***.”
The show’s host continued by saying that gold “never fades” and acts as “a hedge against everything else.” Cuban answered:
It’s hardly a hedge against anything, though, is it? You don’t actually own the actual gold—just its wealth that has been stored—do you? … Both bitcoin and gold can be stored as worth.
“The only thing you possess when you own gold is a digital transaction. Cuban clarified that investors do not really hold the gold bar, stating that they do not.
“You know what would occur if everything went down in a handbasket and you had a gold bar? The Shark Tank star warned that someone would beat the f*** out of you or kill you and steal your gold bar.
Maher emphasized, “We’re not largely in gold,” after acknowledging Cuban’s critique of gold. “And that’s fine,” Cuban said in response.
No, I don’t invest primarily in bitcoin. Just anything I have. But it’s a digital transaction and it’s a store of wealth, the Dallas Mavericks owner emphasized. People, therefore, believe that bitcoin and gold have worth.
Cuban stated that despite saying that bitcoin “is a terrific investment,” he is “not advising anyone to buy” the digital currency. Star of “Shark Tank” continued:
I want the price of bitcoin to drastically drop so I can purchase more. Despite the crypto winter and the failure of the cryptocurrency exchange FTX, Cuban is optimistic about the future of cryptocurrencies.
The FTX meltdown is not a failure in crypto, he has said. Although he acknowledged that he was not familiar with every aspect, he stated that former FTX CEO Sam Bankman-Fried (SBF) should be concerned about spending a very long time in jail.
Kevin O’Leary, aka Mr. Wonderful and Cuban’s Shark Tank co-star, has asserted that SBF is one of the top traders in the cryptocurrency field and that he will support him once more if he has another endeavor.
O’Leary represented FTX as a spokeswoman when the cryptocurrency exchange declared bankruptcy.
Don’t miss important articles during the week. Subscribe to blockbuild weekly digest for updates.