Mark Cuban Comparing Gold and Bitcoin With Baseball Cards

The American billionaire Mark Cuban has again demonstrated that he is not a supporter of cryptocurrencies and does not own them.

Recently, speaking at the Shark Tank show, he expressed his opinion on the value of digital currencies and the impact of coronavirus on world markets.

Cuban said that he would not choose either gold or Bitcoin as assets since their value is determined approximately the same:

He said that “with Bitcoin, some people value it as a store of value, which makes it like baseball cards, art [and] gold.” He continued, adding that people want to invest in gold “because they think, if certain circumstances occur, there will be other potential buyers at that value.”

Cuban also believes that cryptocurrencies are too complex to become mass adopted. According to him, 99% of the world’s population may not understand how they work.

About blockchain potential

Despite the negative attitude towards cryptocurrencies and gold, Mark Cuban is optimistic about the value of blockchain technology.

“When people say there’s no intrinsic value to crypto, they don’t really look at the value of blockchain. Blockchain in general does have at least a basic intrinsic value […] not as high as what crypto trades for,” he said.

According to him, blockchain technology has “basic intrinsic value”, although “it is not as high as cryptocurrencies are traded.”

It is interesting that among the connoisseurs of blockchain technology were Jeff Bezos, Warren Buffett and Bill Gates, who also believe that “there is no value” in cryptocurrencies themselves.

Author: Marko Vidrih

Featured image credit: nypost