Overview
Millions of people follow Mark Cuban and his investment advice. On a quick note, Mr. Cuban first made his fortune in his 30s. Today, He is a Billionaire investor with an estimated net worth of over $4.1 billion. Redditors are trolling Billionaire Mark Cuban’s Bitcoin Investment Advice.
In a video, he mentioned ‘high-risk investment’ and gave an example of Bitcoin and Ethereum. But, Cuban who considered Bitcoin as ‘’too difficult to use, too easy to hack, way too easy to lose, too hard to understand, [and] too hard to assess a value” has suggested his followers invest 10% of income in Bitcoin or Ethereum.
Amazed or Confused?? Well, You read it right!
Back in October 2017, a popular youtube channel ‘Vanity Fair’ shared the video, entitling ‘Mark Cuban’s Guide to Getting Rich’. While Mr.Cuban shared 9 rules to get rich including investing in SPX mutual fund, he did also mention ‘investment in Bitcoin’.
Although the video is quite old and has already garnered over 34 million views (at the press time), yet, some of the comments are trolling Cuban’s view towards Bitcoin and Ethereum.
Cuban marked Ethereum and Bitcoin while elaborating “invest up to 10% of savings in high-risk investments’ ‘. Besides, he quickly specified that if you consider this option, think your money is gone. Let us remind you that Mr.Cuban believed Bitcoin as a bubble.
In fact, in one of his interviews, he added that “buying a Banana is better than bitcoin”. Only because bananas are real and bitcoin is virtual and goes up and down.
The irony is that Mark Cuban while discussing with ‘Bitcoin Bull Anthony Pompliano’ in a podcast revealed that his NBA team owns $130 worth bitcoin.
In fact, the NBA team has announced its partnership with crypto service provider BitPay in August 2019 to accept bitcoins for tickets and merchandise. Speaking with Pomp on The Pomp Podcast, he said,
“Now we’re taking Bitcoin —please, go buy everything in Bitcoin. I’m fine with that, right? I think we’ve brought in $130. That’s all the Bitcoin I own right now”
Redditors are now heating this topic again and trolling Mr.Cuban’s bitcoin investment. While Mr.Cuban might have shared 9 investment rules based on his own experience, what made bitcoiners amazed was his advice to invest 10% of savings in Ethereum or Bitcoin. As such, one Redditor questioned;
Isn’t this the same guy that used to talk mad shit about bitcoin back in the day? Like heavily encouraging people to stay away from bitcoin?
Some people even ask him to act smartly as Bitcoin speculation is a kind of gambling and one should be smart enough to understand it. Another user went on and told them he has realized his mistake now and has changed his opinion.
Another user went on and told them he has realized his mistake now and has changed his opinion.
It’s worth noting that the old video is traveling again.!
The Volatility in Bitcoin
Bitcoin price always tends to see-sawing every single day right from its inception. From being a dollar for a bitcoin in it’s initial days to the highest peak of reaching $20,000 in late 2017 and slipping down to nearly $9000 right now!!
The fact is that the price fluctuation always was a heated concern for many and Mark Cuban too. This always made him feel Bitcoin less trust-worthy.
And hence in his video tip to become ‘RICH’ he mentioned Bitcoin investment as ‘high-risk investment’. He also added that if anyone wishes to invest, he/she should assume that the money is gone!!!
The Final Note
As per several reports, Mark Cuban’s billionaire journey contains his smart investments and moves. He puts forth his opinions and tips based on his success stories. In fact, in his recent podcast with Pomp, he says that he has his perception of investing in Bitcoin and no one can change it.
In a nutshell, Bitcoin’s price has always shuffled in the past and will continue to do so. But understanding the market and predicting is the smart man’s move and women’s too (on a lighter note).
The fact is that the web has witnessed several bitcoin predictions, since its inception – some say that Bitcoin might go as high as $40,000-$50,000 and some believe it may go to Zero.
Let’s just wait and watch!
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