While one could wonder if he was defending Bitcoin, it is far more likely that Cuban was championing fiat currency being compared to crypto.īitcoin price has surged recently, hitting a new all-time high of $29,285.61 a few hours ago. Cuban replied to Musk, saying Musk’s statement was a “blasphemous” one. Want to spend your $BTC somewhere… Spend it with the Mavs and get a 25 percent discount for using Bitcoin ! Ĭuban mentioned Bitcoin in the earlier part of December when Elon Musk, the CEO of Tesla, likened the top crypto to fiat currency. “Want to spend your $BTC somewhere… Spend it with the Mavs and get a 25 percent discount for using Bitcoin!,” he tweeted. He recently took to Twitter to urge Mavs fans to buy gear with Bitcoin and, in return, get a 25% discount on goods purchased. Still, that doesn’t stop him from tweaking the social media noses of crypto enthusiasts or trying to get them to spend their crypto with him. It’s a store of value like gold that is more religion than solution to any problem.” Do you put in in a device, do you print it out, how do you keep from being hacked, who’s going to host it for you?”Ĭuban, in his recent Forbes interview, maintains his distrust of crypto. He stated, “Crypto is so complicated for 99% of the population. He added that he likes the underlying blockchain technology of crypto, but he feels the inherent complexity of using crypto in everyday life is hampering adoption. Gold is a religion: people who are really into gold-they’ll tell you that there’s a bad depression and things go to hell in a handbasket, if you own gold then you’ll be okay. Instead, he says he views the tech as no more than stored value. Mark Cuban told Forbes last year that he isn’t against crypto. While many had stated that cryptocurrency could be a hedge against high inflation risk, Mark Cuban had always reiterated his opinion that crypto isn’t a hedge against “doomsday scenarios.” Is Mark Cuban Embracing Crypto? “I’m not a big fan of what they’re doing there. Notably, in an interview with CNBC, he previously disclosed that he believes Facebook’s Libra was a big mistake. ![]() A banana has more utility, potassium is a valuable nutrient to every person on the planet :), but as long as people accept BTC as a digital version of gold, its investable,” he said. “BTC is what it is, something that enough people have agreed upon is an investable asset. It should be recalled that the billionaire had previously said in a recent interview with Forbes that he believes a banana has more utility than Bitcoin. Their stock prices would immediately jump.Īccording to the tweet, if these public companies stop issuing new shares of stocks, copying Bitcoin’s scarcity-based economic model, their stock prices would immediately increase.ĭistinctly, his tweet has led some to wonder if Mark Cuban, who is commonly known as a crypto critic, is warming up towards digital currency. Public companies should learn a lesson from BItcoin and commit to not issue new shares of stock. Mark Cuban, the billionaire owner of the Dallas Mavericks, made this statement via his official Twitter account, noting that public companies should learn from Bitcoin by committing to not issue new shares of stock. “Following the merge, the amount of ETH issued is projected to drop by 90%, leading to similar fees to reduce Ether’s supply by as much as 5% a year,” the blockchain analytics company – IntoTheBlock – suggested earlier this year.Ĭuban said he had not invested in the Beacon Chain but admitted to allocating some of his wealth to ETH and numerous projects built on the Ethereum blockchain.Mark Cuban, the p opular American entrepreneur and a major Bitcoin critic, has lauded the top crypto’s monetary policy, urging public companies to learn from Bitcoin and limit their share inflation. The billionaire explained that the coins’ supply will reduce drastically, while the process of minting new ETH will be slower. He said that after the transition, Ethereum will have a much greener focus, which should increase its adoption among the broader population.Īdditionally, Cuban predicted that the transition will “possibly make” Ether deflationary asset. One such individual is the owner of The Dallas Mavericks – Mark Cuban. ![]() Many investors and participants in the crypto space think the upgrade will be beneficial for Ethereum and will accelerate its dominance. ![]() This summer, Ethereum is expected to change its infrastructure from the energy-intensive mining model PoW to PoS, making the blockchain protocol less harmful to the environment. He believes the so-called Merge will significantly cut the protocol’s energy consumption, and it could turn Ether into a deflationary asset. The American billionaire Mark Cuban is excited about Ethereum’s shift from a proof of work model to proof of stake for two key reasons.
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