According to Cuban, Bitcoin has value, even if it doesn’t succeed as a currency.
Cryptocurrencies are booming this year. If you’re wondering whether to invest or which coins to buy, you might be interested to learn that billionaire entrepreneur and crypto enthusiast Mark Cuban is big on Bitcoin. Here’s why.
Mark Cuban likes Bitcoin, but not as a currency
When it launched in 2009, Bitcoin was lauded as the world’s first digital currency. Built with blockchain technology, the idea was to enable payments without a middleman such as a bank.
But Cuban, who said about 60% of his crypto is in Bitcoin, 30% in Ethereum, and 10% in other coins, disagrees.
Speaking on The Delphi Podcast, Cuban explained that when it comes to Bitcoin being a digital currency, “It’s not going to work.” In his mind, “It’s too hard. It’s too slow. There’s a limit on the transactions.” He believes Ethereum, the second-biggest crypto, is as close as we have to a true digital currency.
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Instead, Cuban argues that Bitcoin is digital gold and considers