During the recent Christmas cryptocurrency rally that pushed Bitcoin’s all-time highs even higher, former cryptocurrency critic, billionaire investor and Dallas Mavericks owner Mark Cuban turned into a digital asset supporter.
He even cited BTC to global companies as an ideal vehicle for capital accumulation. That is, he recommended that the leaders of such organizations take an example from the first cryptocurrency.
Recall that Mark is on the list of billionaires who own crypto, although he himself holds a very small amount in bitcoins. We are talking about $ 130 in cryptocurrency – at least Mark spoke about this volume in April 2020.
By the way, Cuban got the cryptocurrency after his basketball team started selling tickets and souvenirs for BTC. Perhaps without this, Mark would never have gotten involved with blockchain assets.
The main advantages of cryptocurrencies
On his Twitter account, Mark announced that Dallas Mavericks fans will receive a discount on team merchandise if they pay for their purchases in Bitcoin. Here is his line in which he mentioned cryptocurrency. The statement is quoted by Cointelegraph.
Want to spend your BTC somewhere else … Spend it with Mavs and get a 25 percent discount on Bitcoin.
That is, here the billionaire recommended to the owners of bitcoins not only to keep their coins in anticipation of an even greater rise in the rate, but also to use them to pay for branded items.
Shortly thereafter, the billionaire posted another tweet about cryptocurrency, in which he recommended large companies to follow the example of Bitcoin. In this case, not only investors, but also employees of organizations would be in the black.
Public companies should learn a lesson from Bitcoin’s issuance policy and commit to not issuing new shares. The value of their securities would have jumped immediately.
In this case, Cuban is referring to the limited supply of Bitcoin, since the amount of this cryptocurrency will not exceed the 21 million coins mark. This limitation is implemented at the code level, that is, it cannot be bypassed. In addition, miners cannot accelerate the rate of emission of the cryptocurrency, which in a given period of time increases by 6.25 BTC with each block, ideally in ten minutes.
That is, investors buy an asset and realize that it is deflationary and limited. This means they are insured against the possible release of an additional amount of cryptocurrency, which will negatively affect the Bitcoin exchange rate.
Recall that the rule about the limited number of bitcoins was spelled out in the protocol of the cryptocurrency by its anonymous creator Satoshi Nakamoto. It also often became the subject of heated debates in the cryptocurrency community. But the most important thing is that due to its limited nature, Bitcoin is a scarce asset, with an increase in demand for which its price, at least in theory, should rise. This is what the billionaire uses to justify his advice to public companies.
However, some of them have already shown impressive returns in 2020.
We checked the current data on Bitcoin: today the rate of the cryptocurrency is $ 26,832, which practically does not differ from the indicator of a day ago. The trading volume over the past day has exceeded $ 40 billion. Here is a chart of BTC over the past two weeks, during which the asset jumped 39.5 percent.
We believe that this transformation of Mark Cuban into a Bitcoin fan is primarily a reality due to the desire to advertise the merch of his own company.
However, shortly after the first tweet, the billionaire also praised the features of the first cryptocurrency and encouraged companies to adopt some of its features. This means that it is difficult to deny the dignity of blockchain assets, and even a person who used to be very calm about BTC could not cope with this.
We hope that over time, more and more people will join the camp as a fan of Bitcoin and other cryptocurrencies, regardless of their financial status, niche of activity and other details.