Mark Cuban has established himself as the latest bitcoin and crypto fan in recent months. In an interview not too long ago, the billionaire investor claimed that bitcoin held a “huge advantage” over other forms of digital currency.
Mark Cuban Believes Bitcoin Is Stronger Than Other Currencies
When it comes to serving as a store of value, Cuban believes that bitcoin – the world’s number one digital currency by market cap – has “zero competition,” and that it is the “best store of value on the market.”
This has a lot to do with how the algorithms behind bitcoin are set up. He claims that since bitcoin is limited and has a finite supply, it is an asset that ultimately increases in price as demand grows. This is the big separator, in his opinion, between bitcoin and several other forms of crypto, which are ultimately minted repeatedly as though they grow on trees.
In his interview, he compared bitcoin to gold, and even went so far as to say the cryptocurrency was a stronger store of value in many ways.
Despite these bullish comments, Cuban explained that at the end of the day, he still has mad love for ether, which he says he prefers over BTC in the long run. While bitcoin holds many benefits, Ethereum fits his personal taste and style. He commented:
I can see an unlimited number of applications that will change the biz/consumer world forever, and to use them, you need to buy ETH… BTC doesn’t have that demand pull.
Many traders and developers share similar sentiment regarding Ethereum, which has garnered heavy popularity in recent years given its ability to handle smart contracts. This makes it a very desirable blockchain when one is looking to establish new tokens or decentralized applications. Ethereum may not have bitcoin’s tradability, but it’s certainly a strong tool for those looking to build and create.
Cuban has also stated in the past that he is a big fan of Dogecoin, a popular meme currency. However, while he enjoys trading it with his young son, Cuban stated that he can’t quite put Dogecoin in the same category as BTC or ETH, which he feels are much stronger and more capable currencies.
Not a Fan of Recent Regulation
Recently, Cuban was one of several figureheads bashing the new infrastructure bill that was making its way onto the desks of congressmen and senators. The bill included verbiage that allowed for heavier taxation of crypto traders, while other portions contained elements that were too unclear to be passed. Cuban expressed his distaste for the direction America was taking and mentioned:
Shutting off this growth engine would be the equivalent of stopping e-commerce in 1995 because people were afraid of credit card fraud or regulating the creation of websites because some people initially thought they were complicated and didn’t understand what they would ever amount to.