Mark Cuban, the billionaire investor of the “Shark Tank” show, plans to buy more Bitcoin. He nevertheless issued a reservation which conditions his purchase: the fall in the price of BTC. Indeed, the investor hopes that the value of the cryptocurrency will fall further because for him the current prices are still a bit high.
‘I want to buy more Bitcoin’
It’s in an interview with Bill Maher for his podcast Club Random with Bill Maher that the investor and owner of the Dallas Mavericks basketball club spoke. He confided that his support for bitcoin suffered nothingnot even from the downtrend recorded by the cryptocurrency.
On the contrary, Mark Cuban wants to buy more Bitcoin because he knows the crypto asset will rise. However, he indicated a condition for buying: the value of the BTC must fall further. At the time of writing, Bitcoin is trading at the price of €15,783.
If Cuban is considering buying even more BTC, it’s because he considers this crypto-asset more valuable than gold. Besides, for him, the fact that gold is the traditional hedge for investors against the inflation of fiat money does not change much.
Gold is at the same level as Bitcoin in the eyes of the investor because they are two stores of value. Cuban thinks that those who invest in gold are lucky because if they had a gold bar, they would have it stolen because people are ready to commit irreparable harm to have it.
In the sense of the billionaire, it is not an optimal investment unlike Bitcoin.
Cuban defends the crypto sector
Mark Cuban has often taken sides with cryptocurrencies in his media releases. The billionaire, for example, spoke on the consequences of the collapse of FTX. During this speech, he defended the cryptographic sector by clearing it of the responsibility for this failure.
On the contrary, it shifts the blame to the banking system that is causing the problems in crypto. According to the investor, the banking system is failing because of “loans to the wrong entity, errors in the evaluation of guarantees or even explosions of sub-primes”.
It would be because of these failures that the crypto sector collapsed with the FTX disaster. So bank failures are more culpable than cryptocurrencies in this collapse.
According to one publication on his Twitter account, Mark Cuban thinks that the problem encountered by FTX is not not much different from what the traditional financial sector has gone through in the past.
Also in his goal to support crypto, the Shark Tank entrepreneur wants to dismantle the popular belief that the crypto industry is unregulated. Cuban thinks that allegation is false. Besides, adding new regulations would not help. On the contrary, we could work to improve the existing regulations according to him.
The investor adds that if the SEC really wanted to prove that it is not yet regulating crypto, it would hold to account the centralized exchanges that continue their activities under his nose.
Why invest in crypto despite the bear market
Mark Cuban has been a stalwart supporter for cryptos for a long time. When asked why he invested in crypto, Cuban says smart contracts will revolutionize the crypto industry. These will have a ‘significant impact on the creation of valuable applications’ according to the entrepreneur.
The pattern is clear for Cuban: a token increases in value based on the applications that run on its platform and the utilities created by those applications.
To illustrate the potential of crypto-currencies, the investor recalled the stages through which streaming has passed since 1995 to the present day. Since smart contracts are only five years old, there is still a long way to go to unleash their full potential. It is for this reason that the investor of “Shark Tank” believes in the potential of cryptography and in building apps.
Dash 2 Trade, an alternative crypto with a future
Many investors believe in the potential of crypto and this translates into investing in the early stages of project launch. Dash 2 Trade is a trade intelligence platform whose objective is toprovide the necessary assistance to investors to invest well. Several investors have shown their support for this project by investing heavily during its presale.
The project platform includes all the features for real-time data collection and analysis aimed at improving the transactions of traders and investors. Dash 2 Trade fits perfectly with Mark Cuban’s view on the utility of cryptocurrencies as his platform is considered the “Bloomberg Terminal for Crypto”.
The ecosystem of the project is based on its D2T token whose pre-sale is taking place right now. There is not much time left before the end of the D2T presale.