Billionaire investor and TV personality Mark Cuban was recently interviewed during a podcast episode and discussed crypto assets at length. Cuban claims that his portfolio of cryptocurrencies consists of 60% bitcoin and 30% ether, and the rest smaller cryptocurrencies.
Mark Cuban shares hiscrypto wallet allocations
Mark Cuban is a well-known investor, one of the owners of Shark Tank and the owner of the Dallas Mavericks of the National Basketball Association (NBA). For years, Cuban and some of his colleagues at Shark Tank have been debating cryptocurrencies and whether or not they are a good investment.
In the first week of February, Cuban told stock traders that bitcoin owners are great role models. In March, Cuban told gold expert Peter Schiff that bitcoin was better than gold. But Cuba is also skeptical and has criticized the cryptocurrency industry on several occasions.
For example, in late 2020, Cuban explained that bitcoin (BTC) is a store of value (SoV), but it also carries with it a certain amount of intolerance. It’s a commodity as valuable as gold, which is more of a religion than a solution to a problem, Kubin said.
This week, the Shark Tank co-host shared his deductions about his crypto-currency portfolio with the world and talked a lot about Ethereum (ETH). 60% Bitcoin, 30% Ethereum, and 10% everything else, Kubin noted when explaining his cryptocurrency portfolio on the Delphi podcast.
Cuban considers Ethereum (ETH) a currency, unlike Bitcoin (BTC). In 2012, people said bitcoin was a currency, and it is: It won’t work. But I’ve always said it’s a store of value. If you make people believe it’s a better alternative than gold because of algorithmic scarcity, the price will go up, Kubin noted in his interview.
Bitcoin is] the best alternative to gold, and will remain so. This is the reason I own bitcoins and have never sold them.
Ethereum, NFT and Defi smart contracts have changed the game
Ethereum, on the other hand, is the closest crypto to a currency. Cuban says Ethereum, Defy and NFT are smart contracts game changers.
What really made the difference were the smart contracts, Cuban said. Smart contracts have been created by Defi and the NFT. It was a game changer. That’s what turned me on. That’s why it’s similar to the Internet, says Kubin. He believes Ethereum will adapt over time due to the amount of open development taking place on the blockchain.
Mr. Cuban concluded:
It’s more like life, which is why I have a lot of Ethereum. I wish I’d bought it sooner, but I started it four years ago, just because I think it’s the closest thing to real money.
As for the other 10% coins, Cuban hasn’t disclosed those crypto assets yet, but he added that there’s nothing I’m involved in just yet except Bitcoin and Ethereum, which I consider to be equivalent investments. He also said he had bought some parts just to test the technology and gain experience.
There are some [chips] that I [buy] for fun, some that I do for [experience] because I just want to learn, Cuban said.
What do you think of Mark Cuban’s opinion on Bitcoin and Ether? Let us know what you think in the comments below.
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frequently asked questions
Is Ethereum a Bitcoin?
Ethereum: Review. Ether (ETH), the crypto currency of the Ethereum network, is probably the most popular digital token after Bitcoin (BTC). … Ether and Bitcoins are similar in many ways: Both are digital currencies that are traded on online exchanges and stored in different types of cryptocurrency wallets.
Is Ethereum better than Bitcoin?
At the same time, bitcoin works best as a peer-to-peer transaction system, and Ethereum works well when you need to create and build distributed applications and smart contracts. The choice between Bitcoin and Ethereum is entirely up to you.
Which is faster: Bitcoin or Ethereum?
Transactions on the Ethereum network are much faster than on the Bitcoin network. … Bitcoin is primarily a store of value and a medium of exchange, while Ethereum is not. Ethereum was founded to complement Bitcoin, but eventually became a competitor.
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