Billionaire entrepreneur Mark Cuban says the cryptocurrency market is “exactly” like the dot-com bubble of the late-1990s and early 2000s. His statement seems to signal that digital-asset valuations may implode once investor exuberance runs out.
“Watching the cryptos trade, it’s EXACTLY like the internet stock bubble. EXACTLY,” Cuban tweeted on Monday before offering a silver lining to crypto enthusiasts.
Watching the cryptos trade, it’s EXACTLY like the internet stock bubble. EXACTLY. I think btc, eth , a few others will be analogous to those that were built during the dot-com era, survived the bubble bursting and thrived, like AMZN, EBay, and Priceline. Many won’t
— Mark Cuban (@mcuban) January 11, 2021
Although the internet bubble didn’t end well for the vast majority of dot-com stocks, several rose from the ashes to form legitimate companies, Cuban said. Amazon, eBay and Priceline immediately came to mind.
In Cuban’s view, Bitcoin (BTC), Ethereum (ETH) and “a few others” will likely follow a similar trajectory as their value proposition and use cases continue to grow.
Cuban’s seemingly positive outlook on the top two cryptocurrencies came even as he dispelled all the narratives surrounding monetary debasement and fiatTitle: Mark Cuban says crypto is ‘exactly like the internet stock bubble’
Sourced From: cointelegraph.com/news/mark-cuban-says-crypto-is-exactly-like-the-internet-stock-bubble
Published Date: Mon, 11 Jan 2021 20:44:55 +0000