Mark Cuban bullish on Crypto! Mark Cuban bullish on crypto, saying he invests in Ethereum, Bitcoin, and other altcoins!
Cuban has tweeted that he still holds onto the few digital coins he bought in the early days. According to an interview he gave on “The Delphi Podcast”, his portfolio is broken down as 60% Bitcoin, 30% ethereum, and 10% altcoins.
Bitcoin was created by Satoshi Nakamoto in 2009, and is the largest cryptocurrency by market value. Cuban’s interest in the cryptocurrency is as a store of value rather than a currency, however.
In 2012, “people said bitcoin is a currency, and I’m like, ‘It’s just not going to work.’ But, the entire time, I said it was a store of value where, if you could get people to believe that it was a better alternative than gold, because of its algorithmic scarcity, the price is going to go up,” he said.
According to Cuban, bitcoin is “a better alternative to gold, and it’s going to continue [to be],” he said. “That’s why I own bitcoin and why I never sold it.”
Cuban also has an intense interest in Ethereum, the blockchain where Ether, the second largest cryptocurrency below Bitcoin, is built, mainly due to the smart contracts that run on it.
“What really changed everything was smart contracts,” Cuban said. “Smart contracts came along, and that created DeFi and NFTs. That’s what changed the game. That’s what got me excited. That’s why it’s a lot like the internet.”
“That is more life-like, and so, I have a lot of Ethereum as well,” Cuban said. “I wish I had bought it sooner, but I started buying it four years ago, simply because I think it’s the closest we have to a true currency.”
As to the rest of his portfolio, the 10%, he did not specifically mention what consists the rest of his portfolio, however, he did say that there is no other crypto that he’s all in on, other than Bitcoin and Ethereum.
We do know that a part of his 10% holdings in altcoins includes Dogecoin, which he bought in February of this year for his 11 year old son Jake.
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