Mark Cuban believes that Bitcoin is a digital store of value while the crypto space has a blast over the past few days. The billionaire investor continued dabbling in the space as he is best known for his role in “Shark Tank” and the owner of Dallas Mavericks as we reported previously in our BTC news.
Mark Cuban started increasing his exposure to Bitcoin once he started tweeting about cryptocurrencies. In a recent blog, it seems that Mark Cuban believes Bitcoin is a digital store of value. In the blog, he discussed both ETH and BTC and other aspects of the digital economy. He explained that the blockchain-based assets “now legitimately become stores of value”:
“This digital store of value isn’t limited to Digital Goods of course. It has long included cryptocurrencies (CryptoAssets is what they should be called, they are rarely used as currency), like Bitcoin , Ethereum and so many others, along with the tokens being created to support De-Fi and other value creating derivatives of CryptoAssets. They all are Stores of Value with market cap leader Bitcoin having a decade plus long history of transactions and wealth generation.”
It appears @mcuban is finally all-in on Bitcoin, crypto, and digital goods.
Just a matter of time until every innovator sees the light.
Welcome to the party, Mark! 🙏🏼https://t.co/Z8oQ3eLJdH
— Pomp 🌪 (@APompliano) January 31, 2021
The investor discussed previously that investors have to invest some percentage of their portfolio in the leading cryptocurrency as he argued that there could be some intrinsic value to these digital assets:
“To so many the idea that a CryptoAsset could be a store of value is crazy. To them, there is no there, there. There is no intrinsic value. To them it is a digital representation of nothing, that crazy people are paying good money for. That is not the case.”
Ray Dalio who is another billionaire investor also released a blog post with his opinion on BTC and said that “bitcoin is one hell of an invention:
“Those who have built it and supported the dream of making this new kind of money a reality have done a fabulous job of sustaining that dream and moving Bitcoin (by which I mean it and its analogous competitors) into being an alternative gold-like asset.”
Both Dalio and Cuban are joining the list of prominent crypto investors that see BTC as a viable investment opportunity.
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