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Surprising Bitcoin and Gold Statement by Billionaire Mark Cuban

Surprising Bitcoin and Gold Statement by Billionaire Mark Cuban

Billionaire investor and Shark Tank veteran Mark Cuban predicts that Bitcoin will break the supremacy of gold as a store of value.

In a recent interview with UpOnly, the famous investor says that although he was never convinced that Bitcoin could work well as a currency, he still believes BTC will replace gold for a wide range of investors.

Bitcoin is an Alternative Asset

Stating that Bitcoin is great as a platform, Cuban states that this situation is now accepted and that BTC will replace gold in the portfolios of many people. Cuban also emphasizes that the price of BTC will rise as the whales continue their HODL action.

Cuban notes that while Bitcoin is poised to devour the market cap of gold, it will do so slowly and only when it becomes easier for non-crypto experts to move into the asset.

“You start to see these [exchange-traded funds] opening up and the ways people are buying it. It is still very difficult to put money in a wallet just to buy Bitcoin. So you need someone you can work with to hold it for you, right? Because most people are afraid to keep this Bitcoin in their custody. Until these processes are simple, people will want to buy it the traditional way.”

Stating that when these transactions become easier, people will flock to this area, Cuban emphasizes that then it will be better understood that Bitcoin is worth gold.

Cuban states that over time, people will trust Bitcoin more than Gold, and especially at this point, younger generations will understand Bitcoin better.

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2 comments:

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