June 21, 2021

Mark Cuban owns 30% ETH because it’s ‘closest to a true currency’

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Billionaire Mark Cuban believes Ethereum is the closest thing we have to being a true currency and views Bitcoin as a better alternative to gold.

The Shark Tank and Dallas Mavericks co-owner made the comments as a guest on a recent episode of the Delphi Podcast, where he noted that the growth of DeFi and NFTs had made him excited about crypto. He explained that “smart contracts and the fact that they’re decentralized” means “there’s no one in charge right there, the governance is completely different. That’s what changed the game.”

In fact he compared the development of Ethereum’s smart contracts to the internet boom in the late ’90s and early 2000s:

“When the Internet started to happen, you started seeing all these applications that could disrupt things that happened in the analog world, like when we looked at streaming because I wanted to listen to Indiana University basketball, I couldn’t do it on the radio in Dallas.”

Despite Cuban’s bullishness on Ethereum, he revealed his portfolio has double the amount of Bitcoin to Ethereum with “60 percent Bitcoin, 30 percent Ethereum and 10 percent the rest.”

The Mavs owner doesn’t draw comparisons with Bitcoin toTitle: Mark Cuban owns 30% ETH because it’s ‘closest to a true currency’
Sourced From: cointelegraph.com/news/mark-cuban-owns-30-eth-because-it-s-closest-to-a-true-currency
Published Date: Fri, 02 Apr 2021 02:47:58 +0100