Dallas Mavericks' (NBA) owner, Mark Cuban, praises Bitcoin, willing to buy more when it gets cheaper
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Why bitcoin is a better asset than gold - explained Mark Cuban , a well-known investor and billionaire, owner of the NBA Dallas Mavericks team. The owner of the NBA team Dallas Mavericks Mark Cuban argues that bitcoin is a good investment. "I wish it was cheaper so I could buy more," he stated while guesting on the Club Random Podcast hosted by comedian Bill Maher.
Advantages of bitcoin over gold
Maher stated at the beginning of the conversation with Cuban that he is very "anti- Bitcoin " and believes more in the value of physical gold. The owner of the Dallas Mavericks replied: "If you prefer to buy gold than bitcoin , then you're just stupid."
The comedian persisted and stated that gold is indestructible, will always carry value and is "protection against all the calamities of this world".
However, Cuban disagreed with him. He said: “Yes, gold has some advantages, but it is not a hedge against everything. What's more, even with physical gold, you don't really have a guarantee that you have it forever. Do you know what would happen in some turmoil of war if someone saw you carrying your ingot? Well, he'd shoot you and take her."
Maher replied that he did not have all his wealth in gold. "And I don't hold all my wealth in bitcoin ," replied Cuban . “ Bitcoin is just one of the assets I own. However, I believe that it is probably the most interesting asset I know, which is a digital carrier of value, it is difficult to pick it up or steal it. There is some value in physical gold, but there is much more value in bitcoin ,” Cuban stated .
The billionaire made a reservation that he does not urge you to buy bitcoin now. “Its price could be even lower. I'm praying it drops so I can buy more sats . I believe that the BTC price drop is temporary and results from the onset of another cyclical crypto-winter,” he said. “The potential of cryptocurrencies is great, despite the failure of the FTX exchange, which is not really a failure of cryptos . I believe FTX founder Sam Bankman-Fried should go to prison for a long time,” he added.
At the beginning of 2022, Cuban showed a great sense of the market. He announced that he was getting rid of a large part of his stock portfolio because he expected a deep bear market.
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BTC/USD quotes
Source: TradingView
Who is Mark Cuban?
Mark Cuban is an investor and businessman with a net worth of approximately USD 6.25 billion. He appeared on the list of the richest in 1999, when he sold the Broadcast.com portal to Yahoo. With the money he earned then, he began buying shares in start -ups and shares in companies listed on Wall Street .
Cuban was born in the city of Pittsburgh in 1958. From an early age, he thought about increasing his wealth by collecting stamps, coins and baseball cards. While a student at Indiana University, Cuban ran a bar. After college, he briefly worked at Mellon Bank, but quickly founded the IT company MicroSolutions , which a larger player bought from him in 1990.
With millions of dollars earned in this way, Cuban entered into a partnership with lawyer Todd Wagner, establishing Broadcast.com - a website for streaming radio stations. The company went public in 1998, and in 1999 was sold to Yahoo! For $5 billion, of which Cuban received $1 billion.
Cuban has owned the Dallas Mavericks since 2000 - the team won the NBA championship in 2011. The billionaire lives with his wife and three children in Dallas.
Cuban can be followed on Twitter.
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The value of M. Cuban 's estate
Source: Bloomberg
