• About Us
  • Privacy Policy
  • Contact Us
Bitbion
Advertisement
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices
No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices
No Result
View All Result
Bitbion
No Result
View All Result
Home Bitcoin

Mark Cuban’s opinion of Bitcoin has changed dramatically over the years

February 2, 2021
in Bitcoin
0
Mark Cuban’s opinion of Bitcoin has changed dramatically over the years
Share on FacebookShare on Twitter


With the attention Bitcoin has received, 2021 has already proven itself to be a year of great change. With one month down, it looks like that will continue as billionaire Mark Cuban increasingly softens his stance towards Bitcoin.

The Dallas Mavericks owner once said he would “rather have bananas than bitcoin.” But based on his latest blog post, it looks like the tech billionaire now sees merit in Bitcoin’s digital store of value narrative.

Entrepreneur Cuban once warned against investing in Bitcoin

Cuban joins the growing list of high profile figures that have reversed their stance on Bitcoin. To his credit, he never went as far as calling the leading cryptocurrency fraudulent or “worse than tulip bulbs,” à la Jamie Dimon.

Several years ago, Cuban’s comparisons of investing in Bitcoin as “gambling” were still less than complimentary. Especially as the comments came during at a time of peak public panic, thanks to ICO scams and the like.

Cuban went on to say it’s okay to invest up to 10 percent of savings into high-risk assets, such as cryptocurrency. But he added that anyone who does so should consider it lost money.

More recently, Cuban said Bitcoin is a “store of value,” but he likened it to a religion. As opposed to it being useful in solving problems or inherently valuable.

“My thoughts haven’t changed. It’s a store of value like gold that is more religion than solution to any problem.”

Cuban says what constitutes a store of value is changing

In his latest blog post, Cuban reminisces about stamp collecting when younger. The reader gets to glimpse at Cuban’s entrepreneurial spirit, even as a child, as he describes taking advantage of price inefficiencies between stamp dealers.

He observed that collectibles worked as stores of value because they required physical ownership as proof of existence and scarcity confirmation. However, he concedes that now, in 2021, the concept of digital turns this observation completely on its head.

“But something changed over the past 3 years, (Crypto enthusiasts will tell a different story saying this has been going on since 2009). The block chain has evolved to support smart contracts and the ability to uniquely identify digital goods and the transactions associated with them.”

Cuban added that digital goods, such as Bitcoin and Ethereum, can define availability or scarcity, even though they lack physicality. This ties together with a decentralized blockchain, which no-one controls, making cryptocurrency a legitimate store of value.

Cuban points out that old schoolers are only now beginning to realize that digital and physical investments are equally valid.

Like what you see? Subscribe for daily updates.



Source link

Tags: BitcoinchangedCubansdramaticallyMarkopinionyears
Share76Tweet47

Related Posts

Why Allianz chief economist says Bitcoin surging will fuel an “interesting conversation”

Economist paints woeful outlook if Bitcoin were to ever succeed

by
February 27, 2021
0

London School of Economics teacher Jon Danielsson argues that Bitcoin and fiat currency cannot co-exist. Danielsson claims the concept...

The SEC Releases Compliance Notice on Future Crypto Regulations

The SEC Releases Compliance Notice on Future Crypto Regulations

by
February 27, 2021
0

As the traditional financial world begins its mainstream adoption of crypto assets, the process of legitimizing digital assets as...

Coinbase Considers Bitcoin Creator A Risk To Business, Here’s Why

Coinbase Considers Bitcoin Creator A Risk To Business, Here’s Why

by
February 26, 2021
0

Popular Bitcoin (BTC) exchange platform Coinbase has filed to go public this week. Within the company’s filing with the...

A $40,000 Bitcoin Likely as Price Breaks Critical Support Zone

A $40,000 Bitcoin Likely as Price Breaks Critical Support Zone

by
February 26, 2021
0

A relief bounce in the Bitcoin market Thursday did little in offsetting its prevailing correction bias as its price...

75% surveyed say “No” to Bitcoin in “Money Saving Expert” poll

75% surveyed say “No” to Bitcoin in “Money Saving Expert” poll

by
February 26, 2021
0

Martin Lewis, the self-styled “Money Saving Expert” and champion of consumer affairs for the British public, held a poll...

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
BitTorrent (BTT) Throws Another Jab at Filecoin (FIL)

BitTorrent (BTT) Throws Another Jab at Filecoin (FIL)

November 20, 2020
Multiple Analysts Look at $400,000 as Bitcoin’s Ultimate Bull Stop

Multiple Analysts Look at $400,000 as Bitcoin’s Ultimate Bull Stop

February 10, 2021
Institutions are buying Litecoin (LTC) at a 1,200% price premium

Institutions are buying Litecoin (LTC) at a 1,200% price premium

November 22, 2020
OCEAN Price Moons After Binance Listing

OCEAN Price Moons After Binance Listing

November 25, 2020
Cardano Reaches All-Time High, Ahead of Ethereum in Transaction Volume

Cardano Reaches All-Time High, Ahead of Ethereum in Transaction Volume

0
Lightning Network’s New Liquidity Marketplace Attracts a ‘Surprising’ Mix of Individuals, Enterprises

Lightning Network’s New Liquidity Marketplace Attracts a ‘Surprising’ Mix of Individuals, Enterprises

0
BitTorrent (BTT) Throws Another Jab at Filecoin (FIL)

BitTorrent (BTT) Throws Another Jab at Filecoin (FIL)

0
Softbank CEO sold Bitcoin at a $130m loss after getting “too distracted”

Softbank CEO sold Bitcoin at a $130m loss after getting “too distracted”

0
Cardano Reaches All-Time High, Ahead of Ethereum in Transaction Volume

Cardano Reaches All-Time High, Ahead of Ethereum in Transaction Volume

February 27, 2021
Why Allianz chief economist says Bitcoin surging will fuel an “interesting conversation”

Economist paints woeful outlook if Bitcoin were to ever succeed

February 27, 2021
The SEC Releases Compliance Notice on Future Crypto Regulations

The SEC Releases Compliance Notice on Future Crypto Regulations

February 27, 2021
Major Dubai crypto fund to sell $750M worth of BTC to buy Cardano and Polkadot

Major Dubai crypto fund to sell $750M worth of BTC to buy Cardano and Polkadot

February 27, 2021

We have all the latest updated and legitimate information related to Blockchain, Cryptocurrency, latest market rates & trends, prices, new regulations along with every other thing that somehow related to crypto or digital currency market. Our main idea is to provide the kind of news that is original and at the same time, it can prove to be beneficial for our audience.

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • Litecoin
  • Market
  • Regulation

Archives

  • February 2021
  • January 2021
  • December 2020
  • November 2020

Recent News

Cardano Reaches All-Time High, Ahead of Ethereum in Transaction Volume

Cardano Reaches All-Time High, Ahead of Ethereum in Transaction Volume

February 27, 2021
Why Allianz chief economist says Bitcoin surging will fuel an “interesting conversation”

Economist paints woeful outlook if Bitcoin were to ever succeed

February 27, 2021
The SEC Releases Compliance Notice on Future Crypto Regulations

The SEC Releases Compliance Notice on Future Crypto Regulations

February 27, 2021
  • About Us
  • Privacy Policy
  • Contact Us

© 2020 bitbion.com

No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices

© 2020 bitbion.com