- Mark Cuban prefers Bitcoin over gold for investment, stating he has invested in crypto over gold
- Cuban believes demand for Bitcoin will continue exceeding supply, driving price up; he allocates part of portfolio to crypto
- Cuban sees Bitcoin as store of value, but says Ethereum has more utility; he wants a mainstream crypto app embraced across generations
Billionaire investor Mark Cuban recently shared his thoughts on Bitcoin’s rally, stating that he has invested in the cryptocurrency as a store of value over gold.
Bitcoin’s Recent Price Surge
Bitcoin surged past $68,000 last week, coming close to its all-time high. More funds are flowing into the top cryptocurrency by market capitalization.
Cuban’s Crypto Portfolio
Cuban told CNBC that an unspecified portion of his portfolio is allocated to crypto, but he is “happy” with it. He believes demand for Bitcoin will continue to exceed supply, driving the price up. Cuban has said around 60% of his crypto portfolio is Bitcoin, 30% Ethereum, and 10% other tokens.
Ethereum’s Key Advantage
According to Cuban, Ethereum’s value stems more from its utility compared to Bitcoin. He suggested Ethereum’s success depends on the approval of an ETF based on it. Ether recently traded around $3,700, up 61% in the last month.
Need for a Mainstream Crypto App
Cuban reiterated a major limitation he sees in crypto – the lack of an app embraced across generations. He wants an app so popular that even seniors would feel compelled to use it. “We need that transitional application for crypto to be ubiquitous,” Cuban said.
Bitcoin Over Gold
In closing, Cuban firmly believes in Bitcoin over gold as an investment. “I’m investing in Bitcoin over gold all day, every day,” he stated.
Conclusion
Cuban remains bullish on crypto, particularly Bitcoin, despite some missteps like the Voyager lawsuit. He believes crypto, especially Bitcoin, has great potential as a store of value over traditional options like gold.
