Billionaire and co-owner of the Dallas Mavericks sports team, Mark Cuban, believes that Ethereum is a digital asset that comes closest to replacing conventional currencies. At the same time, Cuban considers Bitcoin as a good alternative to gold and the main store of value.
The investor voiced this point of view on the air of the next release of the Delphi Podcast, during which he noted that the explosive development of the decentralized finance and NFT niches attracted his attention to the crypto market. He explained that “smart contracts and the fact that they are decentralized” means that the “rules of the game” in finance are about to change dramatically.
To begin with, let us recall that the fact that Mark has ethers and other cryptocurrencies based on this blockchain is not a secret. At the end of January, the billionaire accidentally revealed his Ethereum address, which made his investment preferences no longer a secret.
We have clarified the latest data: now there is much more cryptocurrency on the billionaire’s address . At the beginning of the year, the balance of the wallet was 8.41 ETH, and now there are 81.38 of them for the amount of 172 thousand dollars. In addition, the address contains tokens for 577 thousand dollars, 228 thousand of which are for the Serum SRM project.
That is, the investor actively interacts with cryptocurrencies and invests in them. At the same time, it is ETH among them that is closest to being able to replace ordinary money.
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Cuban compared the growing popularity of smart contracts to the rise of the internet in the late 90s. Here is his quote, in which he shares his attitude to what is happening. The replica is provided by Cointelegraph .
When the Internet appeared, fundamentally new solutions were presented to the market that could radically change what was happening in the world before. For example, when it comes to streaming, I couldn’t listen to Indiana University league basketball on the radio in Dallas before.
That is, the investor is confident that cryptocurrencies at their current stage of development are already capable of changing what is happening in the world. And indeed indeed: the owners of coins are able to send them to a person anywhere in the country, while the storage of cryptocurrency is less obvious and dangerous against the background of the same gold. In addition, a whole category of decentralized services is emerging in the industry that can be used without the involvement of third parties. For example, people can get insurance or participate in a transparent blockchain lottery.
Despite Cuban’s optimism about the future of Ethereum , he noted that his portfolio of investments has doubled the number of bitcoins compared to ETH. It now consists of 60 percent BTC , 30 percent ETH and 10 percent of the rest.
It is noteworthy that Bitcoin Mark himself does not compare with the Internet boom, since in his eyes BTC is primarily a store of value. He believes Bitcoin is the best investment alternative to gold. The expert continues.
Thanks to bitcoins, you could and can make transfers, it’s great. Bitcoin is the best alternative to gold, which is phenomenal. It takes money away from gold, and this trend will continue. This is why I own bitcoins, however the main cryptocurrency is unlikely to ever be able to match the internet.
That is, here Mark made it clear that the capabilities of the same Ethereum network are much wider than that of Bitcoin, because the latter can be used exclusively for the accumulation of value and its transfer. However, BTC is the first cryptocurrency with the largest market capitalization – that is, the product of the rate of coins by their number. Therefore, due to its authority, it is Bitcoin that should be considered as the main store of value, Cuban is sure.
Meanwhile, Ethereum has hit a new all-time high this week.
The investor did not elaborate on what constitutes the rest of his investment portfolio, which is 10 percent. These could very well be coins from the DeFi sector, given that at the end of January the billionaire was actively praising several projects in this area. In the past, he also mentioned Dogecoin , a cryptocurrency around which Tesla creator Elon Musk is so actively catching up with hype .
It’s fun, exciting, and hopefully a lot of PR.
Mark admitted that he previously invested ten dollars in DOGE to teach the basics of the crypto market to his son. This is a very far-sighted decision, because in the current decade, crypt can become one of the main pillars of the world of finance.
We believe that Mark Cuban’s statements do reflect the reality. The capabilities of the Ethereum network are much wider than Bitcoin, but at the same time, BTC is still better known among most people. In this regard, the investor prefers to keep most of the funds in Bitcoin, although at the same time he does not stop experimenting with other projects. And judging by the balance of Kyuban’s address, it turns out he is quite successful.