Believing that the Ethereum network’s native token Ether (ETH) is the closest asset to being a real currency, billionaire Mark Cuban sees Bitcoin as a more alternative to gold.
The billionaire, who is a partner of Shark Tank and Dallas Mavericks, was a guest on the last episode of the Delphi Podcast. He stated that he was excited about cryptocurrency with the growth of decentralized finance (DeFi) and NFTs (non-fungible tokens). “Thanks to their smart contracts and decentralized structures, they are managed without anyone responsible,” said Cuban, “that’s what changed the game,” said Cuban.
He said that the development of Ethereum smart contracts matched the internet boom in the late 90s and early 2000s:
“When the internet started to be used, we started to see practices that changed habits in the analog world. For example, listening to basketball games at Indiana University via Dallas was not possible over the radio, but it was made possible by internet broadcasts.”
Although Cuban expects an uptrend in the Ethereum market, it has announced that it allocates “60 percent to Bitcoin, 30 percent to Ethereum and 10 percent to other assets” of its portfolio. He stated that he doubled the amount of Bitcoin in his portfolio.
Since he sees Bitcoin as a store of value, he prefers not to compare it with the internet boom. He believes Bitcoin is a better investment alternative than gold:
“You can make transfers with Bitcoin, and that’s great. It’s a store of value, and it’s great. It’s a much better alternative to gold. Gold gets itself at its market value and it will continue. That’s why I own Bitcoin. It’s a factor, but it’s not like the internet. “
Although Cuban did not reveal what the “rest” of his portfolio was, part of it could be DOGE after the investor said he believes Doge will reach $ 1.