Mark Cuban Would Rather Have a “Pet Rock” Than Gold or Bitcoin
From NewsBTC
Mark Cuban has come out with some strong views on both Bitcoin and gold as a long-term store of value. The American entrepreneur and investor deemed both assets as nothing more than “collectables”.Read more: https://www.newsbtc.com/2018/04/09/mark-cuban-rather-pet-rock-gold-bitcoin/Mark Cuban Prefers Bitcoin to Gold, Albeit Marginally
Speaking to gold news platform Kitco, the billionaire Shark Tank personality said that he sees “gold and Bitcoin as being the same thing”. Based on his opinion, since neither Bitcoin or gold were viable forms of currency, they lacked sufficient utility to necessitate value. For this reason, he deems them both collectables since their value was based solely on “supply and demand”.Cuban had some interesting ways of describing his hatred for the precious metal:
“Hate is not strong enough. Hate with extreme prejudice… hate with extreme prejudice is not enough, hate with double extreme prejudice with an ounce of hot sauce.”
During his rant about gold, however, Cuban did let slip one quality that could make Bitcoin a far better as a store of value than gold: it’s limited supply:
“The good news about bitcoin is that there’s a finite supply, and the bad news about gold is that they’ll keep mining more.”
The presenter then paraphrased Cuban’s stance on gold by comparing it to a pet rock, to which the investor replied:
“Pretty much, but I’d buy the pet rock first.”
Mark Cuban has to be the most inconsistent billionaire investor out there. His opinion on crypto currencies and bitcoin flip-flop every few months. I wouldn't be surprised if he is actively buying and selling and using his celebrity exposure to help drive the price and profit.
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I would much rather have gold. It's shinier :)
That's how you stay in the headlines.
Come on, his NBA team will accept bitcoin next season....
As always, don't listen to analysts, watch what they do.
Don't like or trust Mark Cuban he does flip- flop all the time.
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