Dec 26, 2022 09:21 UTC
Dec 26, 2022 at 09:21 UTC
Mark Cuban Says Bitcoin is a smart Investment, Gold Investors are Dumb
Shark Tank star and therefore the owner of the NBA team city Mavericks, Mark Cuban, says bitcoin could be a smart investment. The wealthy person desires the value of the cryptocurrency to fall additional therefore he should buy some additional. Meanwhile, he affronted gold investors, line of work them “dumb as f***.”
Mark Cuban Prefers Bitcoin Over Gold
Shark Tank star and therefore the wealthy person owner of the NBA team city Mavericks, Mark Cuban, shared his thoughts regarding bitcoin and gold in an episode of the “Club Random ” podcast, hosted by comedian Bill Maher and regular to be aired on monday.
Maher aforementioned he’s “very anti-bitcoin” and believes within the price of gold. Commenting on gold investment, the city Mavericks owner opined:
“If you have gold, you’re dumb as f***.”
The podcast host proceeded to argue that gold “never goes away” and is “like a hedge against everything else.” Cuban replied:
No, however it’s not a hedge against something, right? What it’s is that they hold on to the price and you don’t own the physical gold, do you? … Gold could be a hold on price and then is bitcoin.
“When you own gold, all you own could be a digital group action. You don’t own the gold bar,” Cuban said, accenting that investors don’t truly possess the particular gold. “If everything visited hell during a basket and you had a gold bar, you would know what would happen? somebody would beat the f*** out of you or kill you and take your gold bar,” the Shark Tank star warned.
Acknowledging Cuban’s criticism of gold, Maher processed, “We’re not principally in gold.” Cuban responded: “And that’s fine. I’m not principally interested in bitcoin, right? It’s simply one thing I own.” The Dallas Mavericks owner stressed: “But it’s a digital group action and it’s a store important … Therefore, individuals understand that there’s a price related to gold, and there’s a price related to bitcoin.”
While stating that bitcoin “is a decent investment,” Cuban noted that he’s “not telling individuals to buy” the cryptocurrency. The Shark Tank star added:
“I want bitcoin to go down a lot further so I can buy some more.”
Cuban believes in cryptocurrency’s potential despite the crypto winter and therefore the collapse of crypto exchange FTX. He antecedently explained that the FTX fallout isn’t a failure in crypto. while admitting that he doesn’t recognize all the main points, he said former FTX business executive SAM Bankman-Fried (SBF) ought to be disquieted regarding getting to jail for a awfully very long time.
Meanwhile, Cuban’s Shark Tank co-star, Kevin O’Leary, aka Mr. Wonderful, has insisted that SBF is one among the simplest traders within the crypto space and he can back him once more if he has another venture. O’Leary was a proponent for FTX once the crypto exchange filed for bankruptcy.