Mark Cuban: I buy Bitcoin every day, not gold! Practicality is key to Ethereum's success

This site (120btC.coM): As Bitcoin broke through $69,000 this week and hit a record high, Mark Cuban, owner of the NBA Dallas Mavericks, recently accepted CNBC In an exclusive interview, he said that he is not sure the specific proportion of his investment portfolio allocated to cryptocurrency, but the rise of Bitcoin is very happy: there will only be 21 million, and the more people buy, the fewer people sell. This means prices will rise. That's what it is, it's a great store of value. That's why I'm investing in it. Because I do feel that the demand is going to exceed the selling numbers.

Cryptonews reported that Mark Cuban revealed last year that about 60% of his cryptocurrency portfolio is Bitcoin, 30% is mainly allocated to Ethereum, and the remaining 10% is used to invest in diversified investments. Other tokens.

Practiceability is the key to the future success of Ethereum

In addition, Mark Cuban pointed out that the practicality of Ethereum is the key to its future success. He pointed out that Ethereum is slightly different from Bitcoin because The value of Ethereum is more affected by utility, and Ethereum's further utility depends on whether the Ethereum spot ETF can be approved.

However, Mark Cuban reiterated that there is still a major flaw in the cryptocurrency field, that is, the lack of an application that is widely popular among all ages, including grandparents. He hopes that there will be an application that is so popular that older generations Everyone will feel the need to use it because everyone else is using it: we need transitional applications for cryptocurrencies to become ubiquitous, but until then, just from an investment perspective, I'm investing in Bitcoin every day, not gold.

Peter Schiff responded with dissatisfaction

However, Mark Cuban said that investing in Bitcoin is better than gold, but it caused Peter Schiff, a gold bull and founder of precious metals trader Schiff Gold, to be dissatisfied. The price of gold is at It broke through $2,160 this week, also setting a new all-time high. He tweeted back: Although the price of gold rose by $33 today and reached a record high during the US trading session, the only time I heard about gold was when Mark Cuban said on CNBC that he did not When it comes to buying any gold, he boasts that he “chooses Bitcoin over gold every day.” This shark is swimming in the wrong fish tank.

In fact, this is not the first time the two have clashed. As early as 2022, Mark Cuban said that people who invest in gold are extremely stupid. Peter Schiff hit back at the time. Mark Cuban expressed his views on Bitcoin and gold. They both lacked understanding and said, "I agree that making money is more important than understanding money, but for those who listen to his advice, this is not the case."

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