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Mark Cuban owns 30% ETH because it’s ‘closest to a true currency’

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Billionaire Mark Cuban believes Ethereum is the closest factor we’ve to being a true forex and views Bitcoin as a higher various to gold.

The Shark Tank and Dallas Mavericks co-owner made the feedback as a visitor on a latest episode of the Delphi Podcast, the place he famous that the expansion of DeFi and NFTs had made him enthusiastic about crypto. He defined that “smart contracts and the fact that they’re decentralized” means “there’s no one in charge right there, the governance is completely different. That’s what changed the game.”

The truth is he in contrast the event of Ethereum’s good contracts to the web increase within the late ’90s and early 2000s:

“When the Internet started to happen, you started seeing all these applications that could disrupt things that happened in the analog world, like when we looked at streaming because I wanted to listen to Indiana University basketball, I couldn’t do it on the radio in Dallas.”

Regardless of Cuban’s bullishness on Ethereum, he revealed his portfolio has double the quantity of Bitcoin to Ethereum with “60 percent Bitcoin, 30 percent Ethereum and 10 percent the rest.”

The Mavs proprietor doesn’t draw comparisons with Bitcoin to the web increase, as he views it primarily as a retailer of worth. He believes Bitcoin is a higher funding various to gold:

“With Bitcoin, you could do transfers. And that was great. Right. And it was a store value and that was awesome. It’s a better alternative to gold, which is phenomenal. It’s taking money away from gold and it’s going to continue. And that’s why I own Bitcoin, but that’s one thing, that’s not really where it compares to the Internet.”

The billionaire who said  I’d reasonably have bananas” than Bitcoin in September 2019, has utterly modified his tune since then. Nevertheless, he might have been extra concerned than these feedback counsel, after he tweeted in early January this yr that: “I still have crypto from the early days of Coinbase. I’ve never sold anything.”

I don’t suppose individuals understand I attempt to take a look at and use all these items and have for years. I nonetheless have crypto from the early days of coinbase. I’ve by no means offered something

— Mark Cuban (@mcuban) January 12, 2021

Whereas Cuban didn’t disclose what “the rest” of his portfolio was, a portion is likely to be Doge after the Shark Tank investor forecast a state of affairs the place Doge hits $1.

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