Mark Cuban is more into crypto than he’s previously let on


The billionaire who once said he prefers bananas to Bitcoin is now tossing around crypto terms on social media like an experienced HODLer.

In Twitter threads that were likely precipitated by his recent comments comparing crypto to the Internet stock bubble of the late 1990s, Mark Cuban interacted with several high profile crypto figures including Gemini co-founder Tyler Winklevoss, Gokhshtein Media founder David Gokhshtein, Tron CEO Justin Sun, and others. The Dallas Mavericks owner discussed the issues surrounding supply and demand, the costs of moving crypto, and decentralized finance, or DeFi.

How To Get Free Crypto  

He debated Winklevoss over the nature of Bitcoin (BTC) and Ether (ETH), with the Gemini co-founder referring to the cryptocurrencies as networks and not assets like stocks. Cuban argued that the digital assets “trade more based off the narratives of sellers and supply and demand than any intrinsic value,” and required users to convert the tokens to fiat to realize that value.

“My only mistake on Bitcoin in particular was underestimating your ability,” said Cuban referring to Winklevoss. “You get credit for this, to create a narrative and generate demand for it. You are the King of Get Long and Get Loud for BTC and that’s not a bad thing.”

In addition, the Mavericks owner admitted to HODLing some crypto “from the early days of Coinbase,” seemingly around 2012 when the exchange was founded. This statement is somewhat at odds with one he made in 2019 after the Mavericks offered basketball fans the opportunity to pay for merchandise and tickets in BTC. At the time, Cuban estimated that the sales brought in $130, saying that was “all of the Bitcoin” he owned.

Source: Twitter

The billionaire has been more outspoken about crypto and blockchain this year, around the same time Bitcoin was in the middle of a price rally leading it to an all-time high of more than $42,000. Last Tuesday, Cuban said — seemingly as a joke — that he would run for President of the United States if the price of Bitcoin were to reach $1 million and officials agreed to distribute the crypto asset to all American citizens. 

Coinbase Banner  

Though the price of Bitcoin is more than $35,000 at the time of publication, Cuban’s statement would give the crypto asset roughly three years to rise roughly 3,000%. While such a feat is theoretically possible, it is probably unlikely. 

Go to Source
Author: Turner Wright

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.