Dallas Mavericks Owner Mark Cuban Says The Value Lies Within Blockchain, Not Crypto
Dallas Mavericks owner, Mark Cuban, has revealed that he does not own any crypto assets. The U.S billionaire was speaking at a YouTube interview with fellow shark tank investor, Kevin O’Leary.
Cuban went ahead to further state that he prefers neither Bitcoin nor Gold for an investment as of press date. According to him, both assets are valued in a similar way with the larger underlying being speculative fundamentals;
“With Bitcoin, some people value it as a store of value, which makes it like baseball cards, art [and] gold.”
He noted that investors who hold these assets are hopeful of a black swan in the current fiat currency markets to push their asset prices up. However, buyers need enough liquidity to purchase in such a market for the likes of BTC and Gold to realize the speculated capital growth.
Besides lack of an intrinsic value, Cuban lamented of crypto’s complex nature which makes it even harder for a bigger part of the world’s population to integrate;
“Crypto is so complicated for 99 percent of the population. Do you put it in a device? Do you print it out? How do you keep from being hacked, and who’s going to host it for you?”
Blockchain tech was however hailed as a viable solution in existing industries by the Dallas Mavericks boss. Cuban said that crypto has made stakeholders to overlook the fundamentals of distributed ledgers while they actually have a basic intrinsic value.