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RealVision
- Billionaire Mark Cuban spoke about the stock market bubble, Wall Street betting and Bitcoin.
- The “Shark Tank” star also highlighted the power of AI, digital assets and stimulus controls.
- Cuban compared the blockchain industry to the early days of the Internet.
- Visit the Business insider homepage for more stories.
Tech billionaire Mark Cuban accused the Federal Reserve of driving up asset prices, suggested retail investors wanted revenge, and explored the value of Bitcoin in a RealVision interview published this week.
The ‘Shark Tank’ investor and owner of the Dallas Mavericks also spoke about why Amazon and Netflix are its biggest headlines, touted digital asset ownership as a cure for inequality and called for more government stimulus.
Here are the 14 best Cuba quotes from the discussion, slightly edited and condensed for clarity:
1. “It’s a Fed-pulled bubble more than anything.” – pointing out that interest rates were 4% or 5% during the dot-com bubble so people could save their money and make a risk-free return, as rates near zero today have pushed investors towards stocks .
2. “It’s not investing, and it’s almost not even trading, it’s more revenge. It’s the nerd’s revenge. It’s the little guy’s revenge.” – explaining the impetus behind the meme stock frenzy.
3. “The biggest threat isn’t so much the banks. It’s liquidity, as we’ve seen with Robinhood, and it’s the SEC, which we don’t know what it’s going to do with.” – highlighting the barriers to investment by ordinary investors to disrupt Wall Street.
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4. “It’s like the early days of the Internet. Nobody really knows what it’s going to be. There is a long way to go, and there will be a lot of businesses that won’t work. But you’re going to get some money. winners, oh my god. “- on the outlook for the blockchain industry.
5. “The disruptors will win. We just don’t know which disruptors, or how exactly they will win, but they will win. They always will. I don’t see horses and strollers, I don’t see any. CDs are doing very well. “
6. “Bitcoin will not be a currency. It will not be a hedge against fiat and printing too many fiat dollars. It is a store of value that will rise in value because it is scarce.”
7. “Bitcoin is a reserve asset, just like gold is considered a reserve asset. If the world goes to hell in a hand basket, there is no one walking around with a gold bar , because someone bigger is going to just bang your ass. and take your gold bar. But they’re still going to be hungry. If I have a banana, you will give me your gold bar. “
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8. “My crypto allocation has built up over the years, and I just never sold. I traded a few for Aave recently. I am not looking to trade. not a day trader at all, it takes too much work. “
9. “I bought a few where I said, ‘OK, I’m going to put in $ 10,000 just for shits and laughs’, but I’m not going to tell you which they are, because I don’t don’t do it ‘I don’t want to be yelled at. “- discuss the cryptocurrencies he owns.
10. “My two biggest titles are Amazon and Netflix, and they’ve been for years. And the reason I stick with them is their AI capabilities. If you’re not a big AI company, I have no interest in being a big investor. “
11. “Break them down, I don’t care. It will create more shareholder value.” – on the dismantling of “big technology companies” because of monopoly problems.
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12. “Until you allow people to accumulate digital assets of any kind, you will always have haves and have-nots.”
13. “If you are able to borrow money for who knows how long at less than 1%, and invest in the American people, and earn more than 1% return, traditional investors will will say it’s pretty good. ” – explaining why the US government should send more stimulus checks.
14. “I’m not a fan of the Universal Basic Income, but I’m a fan of sharing what America, Inc. creates.”
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