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Billionaire Mark Cuban Discloses his Bitcoin Investment

American billionaire entrepreneur and owner of Dallas Mavericks shows interest in buying Bitcoin. Yes, you heard me right, Mark Cuban a critic of the crypto market who has been lashing down on Bitcoin over time now has an interest in buying them.

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Cuban has a history with Bitcoin 

Cuban has previously tried his luck with the crypto market, investing in many crypto businesses including an e-sport betting platform and crypto venture capital fund. He also experimented in Bitcoin payments to his basketball team Dallas Mavericks and ended up getting underwhelming results. Soon after this Cuban tweeted “We started taking bitcoin in 2015 and again last year with five total transactions,”.

Due to his past experience, Mark is one of the upfront critics of cryptocurrencies Bitcoin to be particular. He states he would rather buy bananas. The magic has turned this into a line of gold after Cuban’s statement Bitcoin’s value has dropped over 16% whereas bananas remain the same. Comparing Bitcoin-a world mark of cryptocurrency with a banana would have been great fun though. 

Also read, Anthony Pompliano Reveals Details About his Bitcoin Investment

Cuban – what he thinks about Bitcoin

The brand himself, Mark Cuban feels Bitcoin complex and not his cup of tea.

He states “It’d have to be so easy to use, it’s a no-brainer. It’d have to be completely friction-free and understandable by everybody first”.

In his words to be in particular “ grandma should be able to do it”. Cuban is ready to again lay his hands over Bitcoin once it is made user friendly.

“Right now, you still have to convert it for anything you want, and as long as you have to convert it you’re still dependent on fiat… “ Cuban told the co-founder of asset manager Morgan Creek Digital, Anthony Pompliano, on the pomp podcast as a reply when he was asked what will change his mind towards crypto investment. Cuban also believes that Facebook’s new step towards the crypto world in the form of Libra can be dangerous.  

In recent years Bitcoin has not been able to leave a mark. The currency has not matched the investor’s expectations. Whereas rapid improvements in banking and financial technology, including apps and faster cross-border payments mean that the need for Bitcoin is getting diminished day by day. Many officials name Bitcoin as digital gold and potentially safe-haven asset.

Cuban comments on this stating “With gold, at least there’s gold coins—I could use gold bars as furniture. But with bitcoin, it’s virtual, and that’s its beauty and that’s its problem,”.

Cuban feels this global crisis and this period of the epidemic can be crucial for Bitcoin, he believes it will be a game of now or never. “To bitcoin’s potential benefit, if everything goes [wrong] because we’re printing so much money and there are global implications, bitcoin has something to deal with and if we don’t, bitcoin’s got nothing,” Cuban told pompliano in pomp podcast. 

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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