Investor Mark Cuban explains which cryptocurrency he considers “the closest to a true currency”

Published:

2 abr 2021 19:59 GMT

The American billionaire has revealed his investment model in decentralized currencies.

Billionaire Mark Cuban, who made his fortune thanks to the Internet, is optimistic about the future of cryptocurrencies that he frequently compares to the early stages of the Internet.

The American businessman, who sold his company Broadcast.com to Yahoo worth an equivalent of $ 5.7 billion in shares in 1999, it holds the cryptocurrencies it bought when Coinbase, the cryptocurrency trading platform launched in 2012, began operating.

As revealed in a recent episode of ‘The Delphi Podcast’, his current portfolio of cryptocurrencies is made up of “a 60 % of bitcoin, a 30 % Ethereum and a 10 % other”.

They predict that a bitcoin will be equivalent to a Lamborghini by the end of 2021 and a Bugatti in 2023

Although the investor is known for his skeptical comments about the future of bitcoin as a currency, Cuban considers the main cryptocurrency to be a “better alternative to gold” as a store of value and, furthermore, thinks that “will continue to be like this “.

“What really changed everything was the smart contracts“, says Cuban, referring to the agreements between two or more parties saved and executed on the basis of technology ‘blockchain‘, which excludes any centralized control.

In this context, number 177 In the Forbes ‘ranking’, with a fortune of 4,400 million dollars, he compares the current situation with what happened with the Internet.

“Smart contracts appeared and they created DeFi [finanzas descentralizadas] and NFT [tokens no fungibles]”, He said.

The owner of the NBA’s Dallas Mavericks is very interested in Ethereum, a platform that is used to program smart contracts and uses ether as its internal currency, the second world cryptocurrency by capitalization.

Cuban notes that Ethereum is “adaptable with time”as developers can improve their capabilities. “This is more natural, so I have a lot of ethers as well. […] I think it is the closest thing to a true currency, “he stressed.

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