‘Shark’ Mark Cuban: ‘I hold a lot of Bitcoin and Ether, never going to sell!’

Billionaire investor Mark Cuban recently shared a very optimistic view on the future of cryptocurrencies and regularly compared blockchain technology to the early days of the internet.

That is why, for years, “shark” Mark Cuban has been holding a few digital coins that he bought from “early days,” the billionaire shared in the recent broadcast of ” The Delphi Podcast “. Currently, the allocation ratio in his portfolio is: 60% Bitcoin, 30% Ethereum and 10% the rest.

Created in 2009, Bitcoin is currently the most valuable digital currency in the world by capitalization. However, what makes cryptocurrencies attractive to an investor like Mark Cuban is their storage value rather than a currency.

Popular investor in the Shark Tank program said, in 2012, ” people assumed Bitcoin would become a currency, but I said it wouldn’t happen .” He said: ” Bitcoin is a store of value. If you can convince people that this is an alternative to gold because of the scarce supply, then the value of the coin will go up .”

According to Mark Cuban, Bitcoin is ” a better alternative to gold and in the future it will be. ” That’s why he bought Bitcoin and never sold it.

In addition, the billionaire is also very fond of Ethereum – the second largest digital currency in the world after Bitcoin. The blockchain technology behind Ether mainly stores the smart contracts that run on it. In cryptocurrency, a smart contract is a set of codes that are responsible for executing an instruction set and running on the blockchain.

Cuban said: ” What will really change things are smart contracts. Smart contracts were born and from there created DeFi (also known as decentralized finance) and NFT (token not). This is a game changer and what excites me more. That’s why the cryptocurrency market is so similar to the internet . ”

He also saw the Ether ” being able to adapt in the future “. Cuban said: ” I wish I had bought these coins earlier, but only starting 4 years ago. The reason is simply that I think this is the closest currency to the true monetary boundary they are. I have . ”

He did not elaborate on the remaining 10% of the crypto investment. However, the billionaire said ” there is no coin I ‘all in’ like Bitcoin or Ether and is considered an investment equivalent .”

In February, Cuban bought a small Dogecoin for his 11-year-old son, Jake. At the time, he said the investment was just for “fun and educational” for Jake, and at the same time helped him understand the field more. ” There are some coins I buy for entertainment, some for trial purposes because I want to learn more, ” he said.

Consult CNBC