Bitcoin and Crypto Twitter have been on fire for the past few weeks as Mark Cuban, a billionaire, continued to dive into space. The Cuban is known for his role as a shark in “Shark Tank” and as the owner of the Dallas Mavericks. The American investor recently started increasing his exposure to the bitcoin space, at least in terms of his public role when he started tweeting about cryptocurrencies.
In a recent blog post, the Cuban confirmed that he sees Bitcoin as a digital store of value.
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Cuban talks Bitcoin
In a blog post on January 31, Cubans discussed Bitcoin, Ethereum, and other aspects of the digital economy.
On this blog, posted on Blog Maverick, his personal website, he stated that blockchain-powered assets “have now rightly become stores of value”:
“This digital store of value is of course not limited to digital goods. It has long contained cryptocurrencies (CryptoAssets should be called that, they are rarely used as currency) like Bitcoin, Ethereum, and so many others, as well as tokens that are created in support of De-Fi and other value-adding derivatives of CryptoAssets. They are all stores of value, with the market capitalization leader Bitcoin having a decade and a long history of transactions and wealth accumulation. “
The investor has long discussed Bitcoin and previously argued that investors should have a certain percentage of their portfolio in the leading cryptocurrency.
It seems @mcuban is finally all-in for bitcoin, crypto and digital goods.
Just a matter of time before every innovator sees the light.
Welcome to the party, Mark! 🙏🏼https: //t.co/Z8oQ3eLJdH
– Pomp @ (@APompliano) January 31, 2021
Cubans now argue that these digital assets might have some intrinsic value:
“For so many, the idea that a CryptoAsset could be a store of value is insane. There isn’t one for them. There is no intrinsic value. To them, it’s a digital representation of nothing that crazy people pay good money for. That’s not the case.”
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Far from the only billionaire involved
Ray Dalio, another billionaire, recently posted a blog post on his thoughts on Bitcoin.
The world-famous money manager said last week he thinks “Bitcoin is a damn good invention.”
He added that cryptocurrency is becoming a gold-like commodity:
“Those who built it and supported the dream of making this new breed of money a reality did a great job of making that dream a reality and turning Bitcoin (by which I mean it and its analogous competitors) an alternative gold-like asset do . ”
Cuban and Dalio join the growing list of prominent investors who view Bitcoin as a viable investment opportunity.
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Selected image from TradingView.com’s Unsplash chart Price tags: xbtusd, btcusd, btcusdt Mark Cuban: Bitcoin (BTC) is a digital store of value
