In a recent podcast with the DeFi blog The Defiant, billionaire investor Mark Cuban suggests Ethereum (ETH) could be a better store of value. Famous for his appearance on the television series Shark Tank, Cuban asserts cryptocurrency’s second token could even surpass Bitcoin in that area. Cuban’s remarks shock few who recognize him. He suspected BTC in the past and called its price rise bubble-like. Furthermore, the sports billionaire was apparent in the podcast about his enthusiasm for smart contracts.
Moreover, Cuban’s latest remarks link the development of crypto and blockchain to the early days of the internet, indicating smart contract adoption as a crucial trend to look out for shortly. Nevertheless, Cuban can’t appear to get behind the account of hardcore Bitcoin maximalists that support the case of Bitcoin as an alternative store of value when sovereign currencies drop. As per Mark Cuban, it is too hasty to assume that Bitcoin serves as an alternative or a hedge to fiat. He views the use cases for specific other cryptocurrencies to have an advantage of Bitcoin in this regard.
Mark Cuban as an active Crypto Proponent
Nevertheless, Cuban is a fan of cryptocurrency. He commanded his basketball team, the Dallas Mavericks, to allow cryptocurrency payments. Furthermore, in a recent AMA (ask-me-anything) on Reddit, Cuban unveiled his cryptocurrency holdings. It involves decentralized finance project Aave (AAVE). He also advocated that he has ‘wallets everywhere’ and has funded quite a bit in the DeFi space. Mark Cuban believes that Ethereum is transforming into a better storehouse of value than Bitcoin.
Cuban isn’t the only celebrity or billionaire to display strong interest in the cryptocurrency and blockchain space. As he has been completely submerged, Tesla’s Elon Musk is an eager participant in the cryptocurrency world. However, a new cryptocurrency business class is thoughtfully investing in the space. Take MicroStrategy, for instance. The business analytics firm made headlines in December to raise $600 million for Bitcoin. Lately, it purchased $10 million worth of the top-cryptocurrency in one stroke. Furthermore, Musk’s own Tesla recently announced in a filing that it bought $1.5 billion worth of BTC in January.
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