Billionaire Mark Cuban: “Bitcoin is more a religion than a solution”
We are already getting used to the declarations of love for Bitcoin by billionaires and large fund managers. However, some are still disgusted with the king of cryptocurrency.
Non-acceptance of the bitcoin revolution
Bitcoin is too perfect to win favor in the eyes of billionaire Mark Cuban, one of those who doesn’t hold back for a second from showing his hatred for Bitcoin.
And it all started with the fact that Mark Cuban was forced to pay the securities and exchange commission (sec) $ 6.1 million fine for his failed crypto project unikrn. This seems to have made him intolerant of protocols that manage to survive, such as BTC.
In an interview with Forbes, the billionaire owner of Dallas Mavericks explains that his negative opinion about Bitcoin has not changed yet:
“Bitcoin is a means of saving, like gold, but it is more of a religion than a solution to a problem. However, unlike gold, due to the limited amount of crypto asset that will be available and the hodling philosophy, when demand exceeds supply, the price will rise.
Negative aspects that will cause you to be wary of is not one observer. Granting Bitcoin safe haven status and stating that its value is bound to rise due to its limited number (up to 21 million units, not more): is this really the case?”
Mark Cuban continues his strange analysis, but it is already clear that his criticism of Bitcoin is simply absurd. Is the accumulation of BTC is not a protection against crises?
“No matter how much BTC fans proclaim that it is a protection against inflation and crises, it is not. States are trying to save the situation with their national currencies, and the crypto community is only hindering this, which will entail interference from governments”.
In short, the BTC will be so much better than fiat currencies that governments will have to trample on the principle of free currency competition, and impose their own currency, which we trust less and less?
Anger at the BTC and the whole world
Pay attention to the fact that more and more institutions and companies are buying BTC. They want to protect themselves from the fall of the dollar (and other fiat money) and hyperinflation, which is associated with a complete change in the world as we know it.
Mark Cuban has an unconstructive hatred of Bitcoin, and it’s hard to imagine what the latter could have done to it to deserve such a thing. His last remark illustrates this:
“BTC is something that enough people have agreed to make an asset to invest in. Bananas are more useful than Bitcoin, but as long as people accept the Cue Ball as a digital version of gold, the investment still remains”.
If at the end of 2020, Mark Cuban still does not understand either the interest in Bitcoin or the financial and economic revolution that the king of cryptocurrency brings to the world, no one else can do anything for him. He is simply hopeless in his envy and malice. Even his criticism turns into either unconscious compliments or ridiculous comparisons. So there’s no point in telling him that, unlike bitcoin, bananas` HODL don’t have much of a future. They will ripen quickly.