However, Cuban can’t seem to get behind the narrative of hardcore Bitcoin maximalists that argue for the case of Bitcoin as an alternative store of value when sovereign currencies collapse. “I believe there will be a point where sovereign governments use fiat in digital currencies”, he says, in the latest episode of the Defiant podcast, arguing that it is a more economically viable option to follow in the future. If anything, they are indicative of a broader change in sentiment: crypto is mainstream now, and the sector should switch its focus from fighting for acceptance and recognition to building sustainable and practical solutions with everyday utility.Mark Cuban – the billionaire tech investor has often made contrasting remarks about cryptocurrency, once stating that he would rather “have bananas than Bitcoin” and later revealing a DeFi portfolio worth a few hundred thousand dollars.Ĭuban’s latest remarks compare the advent of crypto and blockchain to the early days of the internet, citing smart contract adoption as a key trend to look out for in the near future. As crypto markets enter a consolidation phase, investors should keep in mind that these attitudes are not going to be simply swept under the rug. Politicians, too, found that they stand to gain from boarding the crypto train, with the mayors of Miami and New York City competing to be the first politician to accept a salary in Bitcoin. After Cubans announcement, the token grew by almost 50 in less than a day. Ethereums volatile commissions have also contributed to the growth, costing members of the Uniswap community 17.59 even today. Several AFL sports franchises signed multi-year partnership contracts with cryptocurrency exchanges. The platform cooperates with an increasing amount of DeFi protocols, against which the coin rate is gradually gaining momentum. Tom Brady penned a partnership with a big cryptocurrency exchange, though he was far from the only star to do so. Stars and politicians increasingly bullish on cryptoĪlthough star investors and celebrities do not move markets (unless you are Elon Musk tweeting about Dogecoin), their crypto attitudes are a good indicator of the emotional sentiment of retail investors.ĭuring the 2021 bull run, NFTs became incredibly popular among sports stars and A-list celebrities in the entertainment industry: everyone from Stephen Curry over Snoop Dogg to Lindsay Lohan started buying NFTs. He said his cryptocurrency investments are split 60%, 30%, and 10% in Bitcoin, Ethereum, and altcoins, advising that the utility of a token must be established before investment because the utility fuels value creation. His Dallas Mavericks franchise accepts the meme coin Dogecoin for payments and has partnered with a crypto payments firm to integrate cryptocurrency payments with its online presence.Ĭuban has also expressed conviction in decentralised finance, saying that “ smart contracts can change the world” and not shying away from investing in highly speculative and risky DeFi protocols himself.
Quite the opposite, as he is known to own at least one Crypto Punk and Bored Ape NFT each, along with investments in DAOs. Billionaire Mark Cuban praised Dogecoin, trumpeted DeFi and NFTs, and dismissed bitcoin as an inflation hedge in a recent interview. Asked about Bitcoin’s utility as an inflation hedge, Cuban said that he believes this to be “little more than a marketing gimmick” and that crypto may not be for everyone at the moment, but that in the next ten years, some of it would succeed ad create its own economy.Ĭuban is far from a stranger to cryptocurrency investments.
The problem is that the whales control the game. Now, Mark Cuban, billionaire owner of the NBA franchise Dallas Mavericks, echoed his words in almost identical fashion.Ĭuban said that “It’s like the early days of the internet,” and that it was 1995 for cryptocurrencies, hinting at the fact that most development was yet to come. Cuban: Depends on how many people and institutions replace gold with BTC, and whether DeFi becomes a real bank alternative that anyone can use. First, Seek founder Matt Rockman compared crypto to the early days of the internet. Recently, Mark Cuban shared his thoughts on the the stock market, decentralized finance (DeFi), and non-fungible token (NFTs) during an Ask Me Anything (AMA) session. That seems to be the go-to approach among A-level entrepreneurs, judging by how several US entrepreneurs have expressed their opinion about crypto. If you want to convince someone to invest in cryptocurrencies, tell them it’s like the internet at the beginning. Mark Cuban was the latest bigwig investor to liken the rise of cryptocurrencies to the early days of the internet.
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