Dallas Mavericks owner Mark Cuban has given his opinion on Bitcoin and gold, claiming that investing in the cryptocurrency is better than the precious metal. The billionaire entrepreneur also called out gold investors, labeling them as “fools”.
Mark Cuban Favors Bitcoin Over Gold
In a recent episode of the podcast, “Club Random,” hosted by comedian Bill Maher, Dallas Mavericks owner, and Shark Tank star, Mark Cuban shared his views on Bitcoin and gold. Maher, who claimed to be “very anti-Bitcoin,” suggested that gold is the best way to protect one’s wealth. Cuban disagreed, saying:
If you have gold, then you are a fool.
Maher argued that gold never goes away and is “like a hedge against everything else.” Cuban replied:
No, it’s not a way to protect yourself from anything. What it is stored value, and you don’t have the physical gold right?… Gold and Bitcoin both have a stored value.
The podcast host then clarified that he is not primarily invested in gold. Cuban then went on to say that he owns Bitcoin, and added: “But it’s a digital transaction, and it’s also a store value… People believe that Bitcoin is more valuable than gold.”
The billionaire entrepreneur did not tell people to buy Bitcoin and even said that he wants the prices to fall so that he can purchase more. Cuban acknowledged the cryptocurrency winter and the collapse at the FTX crypto exchange, but still believes in the potential of cryptocurrencies. He also commented on his Shark Tank co-star Kevin O’Leary’s support for Sam Bankman-Fried (SBF), the FTX spokesperson.
What do you think about Mark Cuban’s statements about Bitcoin and gold? Let us know in the comments section below.
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