Bitcoin News and Finance
Mark Cuban: Bitcoin Is a Good Investment, Gold Investors Are Dumb 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.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory