Mark Cuban, the billionaire owner of the Dallas Mavericks, explains in an in-depth interview about “Cavuto: Coast-to-Coast” markets, crypto investments, the potential for tax increases and how the Biden government is dealing with the US economy.
Business giant and billionaire Mark Cuban came to FOX Business on Monday and shared his views on how not all digital currencies are created and how cryptocurrencies could shape the future.
“Bitcoin is a bit of a different animal than crypto as a whole,” Cuban told host Neil Cavuto in “Cavuto: Coast-to-Coast”.
Mark Cuban: Getty Images Bitcoin coins isolated on black background. Cryptocurrency Gold Bitcoin, BTC, Bit Coin. Blockchain (Getty Images / Getty Images)
“Bitcoin is a great alternative store of value,” said the owner of the Dallas Mavericks. “I think it’s a better alternative than gold, but crypto is not the same as crypto. You put bitcoin in the stored value category and then switch to things like Ethereum.”
“Ethereum is really a big network and because of its smart contracts and security and distributed management ability, I think you will see many unique business applications,” Cuban continued before going further.
“I’m investing in things like decentralized insurance applications, decentralized ways of distributing NFTs that make things like 3D print files and textbooks possible – so many different uses,” he revealed. “It’s very analogous to what we saw in the early days of the internet when we switched from analog to digital.”
Dallas, Texas, USA; Dallas Mavericks owner Mark Cuban shoots before the game against the Los Angeles Lakers at the American Airlines Center. (Kevin Jairaj-USA TODAY Sports / Reuters Photos)
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The Dallas Mavericks owner admitted that his sports team accepts cryptocurrencies as payment for tickets and merchandise, but noted, “Not a lot of people pay in bitcoin because it is truly a significant asset.”
But: “There are a lot of people who pay [with] Dogecoin, ”said Cuban. “We sell thousands and thousands of dollars a month in the off-season and when the season starts I expect this to happen with Dogecoin per week – and that’s really because it’s easy to spend, it’s not that appreciated so much that people want to keep it forever. “
Cuban explained his opinion on Ethereum, Bitcoin and Dogecoin (iStock)
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Cuban revealed that he personally has about $ 1,500 in Dogecoin just “for fun” and said, “I’ve never told anyone that it’s a great investment to invest in the market.”
He added, “It’s a better investment than a lottery ticket if you’re trying to get a home run.”