Here’s What Makes Up Billionaire Mark Cuban’s Sh*tcoin Portfolio
The billionaire investor pumped the RARI token by putting up his digital collectible on sale on the marketplace. The Shark Tank investor is most heavily involved in DeFi blue-chip AAVE.
The billionaire owner of the Dallas Mavericks, Mark Cuban, has started to warm up to Bitcoin and altcoins publicly after calling them worth less than a banana and baseball cards.
In January, he likened crypto trading to the internet stock bubble, further adding that much like gold, crypto is “supply and demand-driven.”
One of the investors on Shark Tank, Cuban, raised many eyebrows on Wednesday when he pumped the NFT RARI and talked about owning shitcoins.
Cuban is actually all up in non-fungible tokens (NFTs) and even has some blockchain-based ideas for his Dallas Mavericks as he told a media publication, “You can sell anything digital using NFT.”
The billionaire put up his collectible on the Rarible marketplace, which currently has a bid of 7.3 WETH, about $9,426.
— Mark Cuban (@mcuban) January 27, 2021
This, of course, pushed the prices of RARI, the native non-fungible token of the Rarible marketplace where one can create, buy and sell the digital collectibles. Founded early last year, Rarible is a platform that focuses on art and digital collectibles, and it was only in the summer of 2020 that the governance token RARI was issued.
Up 80% in the past 24-hours, RARI is currently trading at $5.17. RARI 0.52% Rarible / USD RARIUSD $ 3.25
$0.020.52% Volume 520.53 K Change $0.02 Open $3.25 Circulating 9.44 m Market Cap 30.72 m 1 y Coinbase Enables its Over A Million Wallet Users to Use DeFi — DEXs, NFTs, & More 1 y Bitcoin Closes its Best Quarter in 8 Years, With 103% Gains 1 y Lindsay Lohan Wants You to Buy Her NFT on Ethereum, Because 'Bitcoin is the Future'
“If celebrities & hedge fund managers can pump assets for their own benefit, why can't the WallStreetBets hive mind do the same?” commented trader and economist Alex Kruger.
As Cuban put up his digital collectible, the blockchain transparency helped CT track his Ethereum address that revealed Cuba’s shitcoin portfolio, and he is found to be having his eyes set on DeFi blue chips.
“I definitely got my share of shitcoins lol,” Cuban also responded.
The majority of the $1.3 million net worth is actually tied up in the leading lending protocol Aave. He has supplied $1.17 million to Aave V2 WETH ($1.16 million), AAVE ($10k), and DAI ($16.66), as per DeBank. Cuban also has $127k staked on Aave.
Cuban had previously mentioned AAVE when earlier this month he complained about extremely high fees on DeFi.
His small $2,362 wallet holdings comprise quite a few tokens,17 exactly, including ETH, SRM, ALPHA, BADGER, FWB, GRO, RGT, PAR, RSR, LAYER, TRAC, FTM, TKN, VALUE, OPEN, FLOW, and SNTVT.