Skip to main content

Mark Cuban: Bitcoin Is a Good Investment, Gold Investors Are Dumb

Mark Cuban Says Bitcoin Is a Good Investment — Calls Gold Investors Dumb

Shark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, says bitcoin is a good investment. The billionaire wants the price of the cryptocurrency to fall further so he can buy some more. Meanwhile, he insulted gold investors, calling them “dumb as f***.”

Mark Cuban Prefers Bitcoin Over Gold

Shark Tank star and the billionaire owner of the NBA team Dallas Mavericks, Mark Cuban, shared his thoughts about bitcoin and gold in an episode of the “Club Random” podcast, hosted by comedian Bill Maher and scheduled to be aired Monday.

Maher said he is “very anti-bitcoin” and believes in the value of gold. Commenting on gold investing, the Dallas 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, but it’s not a hedge against anything, right? What it is is the stored value and you don’t own the physical gold, do you? … Gold is a stored value and so is bitcoin.

“When you own gold, all you own is a digital transaction. You don’t own the gold bar,” Cuban detailed, emphasizing that investors do not actually possess the actual gold. “If everything went to hell in a handbasket and you had a gold bar, you know what would happen? Someone 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 clarified, “We’re not mostly in gold.” Cuban responded: “And that’s fine. I’m not mostly in bitcoin, right? It’s just something I own.” The Dallas Mavericks owner stressed: “But it’s a digital transaction and it’s a store of value … So, people perceive that there is a value associated with gold, and there’s value associated with bitcoin.”

While stating that bitcoin “is a good investment,” Cuban noted that he is “not telling people 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 the collapse of crypto exchange FTX. He previously explained that the FTX fallout is not a failure in crypto. While admitting that he does not know all the details, he said former FTX CEO Sam Bankman-Fried (SBF) should be worried about going to jail for a very long time.

Meanwhile, Cuban’s Shark Tank co-star, Kevin O’Leary, aka Mr. Wonderful, has insisted that SBF is one of the best traders in the crypto space and he will back him again if he has another venture. O’Leary was a spokesperson for FTX when the crypto exchange filed for bankruptcy.

What do you think about Mark Cuban’s statements regarding bitcoin and gold? Let us know in the comments section below.



from Bitcoin News https://ift.tt/XLUShnK
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought
Post a Comment
Read more