Cuban reveals that his portfolio consists of 60% of Bitcoin and 30% of Ether. The businessman considers Ether to be the closest to being a “true currency.”
On several occasions, Mark Cuban has shown his position on Bitcoin (BTC), Ether (ETH), the Ether (ETH) cryptocurrency, and even Dogecoin (DOGE). The American billionaire businessman recently said that he has been acquiring crypto assets for several years. He revealed that he currently manages “60% of Bitcoin, 30% of Ether and 10% of other cryptocurrencies” in his portfolio.
Cuban stated that his addresses are in the “whale listings level” due to the amount of BTC and ETH that he owns. The investor added that if the price of the pioneering cryptocurrency dropped, he would buy more.
Cuban Now Considers that Bitcoin Functions as a Store of Value
In 2012, some people told Cuban that Bitcoin was a currency, but he told them that it was “not going to work.” However, he now considers that it does function as “a store of value.” Besides, he explained that “its algorithmic scarcity can convince people that it is a better alternative to gold. [This particular feature is what] causes its price to rise.”
The owner of the Dallas Mavericks basketball team said that only the supply and demand law drives the value of Bitcoin and gold. “All the narratives on the devaluation of fiat money are only plots of sales. The biggest sales drive is scarcity versus demand, that is all,” according to Cuban.
Ether Is a Cryptocurrency that Can Adapt Over Time
Ether is Ethereum’s native token and the second-largest cryptocurrency by market capitalization behind Bitcoin. The businessman said that he was quite interested in ETH. He thinks that smart contracts based on this blockchain have led to “changing everything.” He added that Ethereum can “adapt over time”, which makes it “more realistic” than other alternatives.
“Smart contracts arrived and created DeFi (decentralized finance) and non-fungible tokens (NFT), [which] changed the game. That is what moved me,” Mark Cuban stressed.
Although the billionaire investor began to acquire ETH four years ago, he noted that he would have bought more before. In his opinion, “it is the closest that we have to a real currency.”
The Dogecoin Cryptocurrency Can Have an Educational Value
Concerning the Dogecoin cryptocurrency, he said that he had bought it to educate his 11-year-old son about this market. “There are some cryptocurrencies that I buy just for fun and some others for the experience. [I do it] because I want to learn,” he said.
However, the acceptance of Dogecoin in Cuban businesses goes beyond the aforementioned statements. At the beginning of March, the Dallas Mavericks decided to accept Dogecoin as payment for the tickets and the merchandising of the team.
The co-host of the reality television show “Shark Tank” said that business sometimes has to be fun and attractive. He added that they hope, by accepting to use Dogecoin, to generate a lot of public relations.
By Alexander Salazar