Recently Mark Cuban assured that his opinion about Bitcoin remains unchanged. He also emphasized that BTC is more a religion than a solution.
Recently Mark Cuban assured that his opinion about Bitcoin remains the same. He also emphasized that BTC is more a religion than a solution.
Throughout 2020 Bitcoin has managed to conquer the heart of more than one traditional inverter. However, it’s impossible to please everyone and it doesn’t have to be that way.
Mark Cuban is one of those traditional investors who doesn’t believe in Bitcoin’s potential, and that’s precisely what he emphasized during his interview with Forbes.
“My thoughts haven’t changed,” he said. Let’s remember that this was on December 8, several days before the most recent leading crypto rally.
Bitcoin Doesn’t Offer Solutions
In this way, Cuban assures that Bitcoin is “a reserve of value like gold that is more religious than a solution to any problem. And, therefore, he argues that it’s impossible for Bitcoin Superstar, or any other crypto-currency, to replace trust or government-backed currency.
“No matter how much the fanatics want to pretend it’s a protection against end-of-the-world scenarios, it’s not,” Cuban said.
He added that “countries will take steps to protect their currencies and their ability to tax, so the more people believe that this is more than just a store of value, the more risk they face of government intervention.
Likewise, Cuban does believe that Bitcoin is like gold in the sense that it is a reserve of value, and therefore he stated that “as long as people accept Bitcoin as a digital version of gold, it is an investable asset.
But be careful! When Cuban refers to Bitcoin as an investable asset, it doesn’t mean it’s a safe bet. Let’s remember that, at the time, Mark Cuban said he’d rather invest in bananas than Bitcoin.
What’s interesting is that Mark Cuban has indeed ventured into the crypto world; in fact, in 2019 he claimed to have $130 invested in Bitcoin. However, it’s not known if he still has them.
“A banana has more utility, potassium, is a valuable nutrient for all people on the planet,” Cuban said. According to the billionaire, he will only change his mind when BTC is so easy to use that it would be a no-brainer.
We want your opinion! Do you agree with Mark Cuban’s perspective? Why?