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Billionaire investor and TV personality Mark Cuban recently did an interview on the recent podcast episode and discussed crypto assets at length. Cuban says its cryptocurrency portfolio is made up of 60% bitcoin, 30% ethereum and the rest is dedicated to smaller-cap cryptos.
Mark Cuban shares his crypto wallet allocations
Mark Cuban is a well-known investor, one of the hosts of Shark Tank and the owner of the Dallas Mavericks of the National Basketball Association (NBA). For years now, Cubans and some of his fellow Shark Tank co-hosts have been discussing cryptocurrencies and whether or not they’re a good investment.
During the first week of February, Cuban told stock traders that bitcoin holders are a great example to follow. In March, Cuban told gold bug Peter Schiff that bitcoin was better than gold. However, Cuban was also skeptical and also criticized the crypto industry a few times.
For example, at the end of 2020, Cuban explained that bitcoin (BTC) was a store of value (SoV) but also carried a bit of fanaticism. “It’s a store of value like gold that’s more of a religion than a solution to any problem,” Cuban said.
This week, the Shark Tank co-host explained to the world his cryptocurrency wallet allocations and had a lot of discussion about Ethereum (ETH). “60% bitcoin, 30% Ethereum and 10% the rest,” Cuban pointed out when explaining his crypto portfolio on “The Delphi Podcast”.
Cuban considers ethereum (ETH) to be a currency unlike bitcoin (BTC). “[In 2012] people said bitcoin is a currency and I was like, ‘This just won’t work. But, all the time, I said it was a store of value where, if you could make people believe it was a better alternative than gold, because of its algorithmic scarcity, the price was going to increase, ”Cuban said during his interview.
Cuban pointed out:
[Bitcoin is] a better alternative to gold, and it will continue [to be]. This is why I own bitcoin and why I have never sold it.
Ethereum smart contracts, NFTs and Defi have changed the game
Ethereum, on the other hand, in Cuban’s opinion, is the closest crypto asset to being a currency. Cuban says Ethereum’s smart contracts, challenge, and NFTs have been a game-changer.
“What really changed everything was smart contracts,” Cuban insisted. “Smart contracts have arrived, and it’s created challenges and NFTs. This is what changed the game. That’s what turned me on. That’s why it looks a lot like the Internet, ”Cuban explained. He believes Ethereum is “adaptable over time” due to the amount of open development that is happening on the chain.
Cuban concluded:
It’s more realistic, so I also have a lot of Ethereum. I wish I had bought it earlier, but I started buying it four years ago, just because I think it’s the closest thing to a real currency.
Regarding the remaining 10% of the coins, Cuban has yet to disclose these crypto assets, but added that “there is none that I fully agree with other than Bitcoin and Ethereum, which I consider an equivalent investment. ” He also noted that he bought a part or two just to test the technology and gain experience.
“There are [tokens] I [buy] for fun, some that I do for [the] experience because I just want to learn, ”Cuban said.
What do you think of Mark Cuban’s opinion on Bitcoin and Ethereum? Let us know what you think of this topic in the comments section below.
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