The American entrepreneur, Mark Cuban, is a cryptocurrency believer. Cuban has revealed his cryptocurrency portfolio comprising 60% Bitcoin, 30% Ethereum, and 10% other altcoins. The billionaire believes Ethereum (ETH) to be the “closest to a true currency” while citing Bitcoin as a better alternative to gold. Per the entrepreneur, Bitcoin is better suited as a store of value and a safe haven asset – like gold but better. And Ethereum, with its scalability, is ideal for transactionary demand – making it a viable currency.
The tech billionaire hadn’t always been big on cryptocurrencies. Cuban has been vocal about the absence of any intrinsic value of Bitcoin, at the same time, he compared Bitcoin to gold – stating both gold and Bitcoin will serve to real purpose to an average investor, rather pose problems because of their complications. Cuban’s comment “I’d rather have bananas” on Bitcoin and gold had become quite famous.
Now, with the cryptocurrency market in a boom primarily due to the popularity of the decentralized block chain technology, the billionaire like many others have had a shift in fundamentals and is now a staunch believer of cryptocurrencies as well as their underlying technology. Cuban pointed out towards the decentralized technology of cryptocurrencies and how that has the potential to become the “next big thing” in a growingly connected world.