Mark Cuban, a Shark Tank participant and owner of the Dallas Mavericks of the NBA, thinks bitcoin is a wise investment. The billionaire hopes that the price of cryptocurrencies will continue to decline so that he may purchase more. In the meantime, he called gold investors “stupid as f***” and humiliated them.
Bitcoin Is Mark Cuban’s Preference Over Gold
In a forthcoming episode of the Bill Maher-hosted “Club Random” podcast, the Shark Tank celebrity and billionaire owner of the NBA team Dallas Mavericks, Mark Cuban, discussed his views on bitcoin and gold.
Maher declared that he is “extremely anti-bitcoin” and that gold has value. The owner of the Dallas Mavericks had the following opinion on buying gold:
If you have gold, you’re a complete moron
The host of the show continued by saying that gold “never fades” and acts as “a hedge against everything else.” Cuban answered:
It’s hardly a hedge against anything, though, is it? You don’t actually own the actual gold—just it’s wealth that has been stored—do you? … Both bitcoin and gold can be stored as value.
“The only thing you possess when you own gold is a digital transaction. Cuban clarified that investors do not actually own the gold bar, stating that they do not. “You know what would happen if everything went to hell in a handbasket and you had a gold bar? The Shark Tank contestant cautioned, “Someone would beat the f*** out of you or kill you and take your gold bar.
Maher emphasized, “We’re not largely in gold,” after acknowledging Cuban’s critique of gold. “And that’s fine,” Cuban said in response. No, I don’t invest primarily in bitcoin. Just anything I have. But it’s a digital transaction and it’s a store of value, the Dallas Mavericks owner emphasized. People therefore believe that bitcoin and gold have worth.
Cuban stated that despite saying that bitcoin “is a terrific investment,” he is “not advising anyone to buy” the digital currency. Star of “Shark Tank” continued:
I want the price of bitcoin to drastically drop so that I can purchase more.
Despite the crypto winter and the failure of the cryptocurrency exchange FTX, Cuban is optimistic about the future of cryptocurrencies. The FTX meltdown is not a failure in crypto, he has said. Although he acknowledged that he was not familiar with every aspect, he stated that former FTX CEO Sam Bankman-Fried (SBF) should be concerned about spending a very long time in jail.
Kevin O’Leary, aka Mr. Wonderful and Cuban’s Shark Tank co-star, has asserted that SBF is one of the top traders in the cryptocurrency field and that he will support him once more if he has another endeavor. O’Leary represented FTX as a spokeswoman when the cryptocurrency exchange declared bankruptcy.