Cryptocurrency News

Mark Cuban has 80% of his new investment in crypto

  • Mark Cuban said that he makes 80% of new investment in crypto
  • He also revealed that it is very early for cryptocurrencies and compared it to 1995 for Internet
  • Cuban also praised the trustless and decentralized nature of cryptocurrencies

The Shark Tank famed billionaire and investor Mark Cuban has revealed that as much as 80% of his new investment is in cryptocurrencies. The owner of Dallas Mavericks spoke to Comedian and former Daily Show host Jon Stewart and said that he didn’t focus on price speculation. 

Mark Cuban impressed by crypto

In his podcast session with Stewart, Mark Cuban talked about the basics of cryptocurrencies and how he is impressed by their trustless and decentralized nature. He also pointed out the fact that with cryptocurrencies, the token holders get to decide in which direction a project will go, and every holder gets a “typically equal vote.”

“Eighty percent of the investments I make that are non-Shark Tank are in and around cryptocurrencies,” revealed Mark Cuban in the podcast.

Mark Cuban also spoke about the price speculation surrounding cryptocurrencies like Bitcoin and Dogecoin and said that he didn’t focus on these speculations. He compared these speculations to “gamesmanship” akin to stocks. 

Early days for crypto

Mark Cuban stated that it is still too early for cryptocurrencies comparing it to the year 1995 for the Internet. He said that right now, understanding cryptocurrencies is a hassle, “but ten years from now, these applications — there’s going to be those that succeed — that’ll create its own economy, and just like the Internet days, it’ll be the younger generation that figures it out first and is innovative.”

Mark Cuban has been very active in the crypto space lately, backing Polygon (MATIC) and making headlines by investing in several other projects as well. He recently revealed that he hasn’t sold any of his crypto from the early days.

He was once very critical of cryptocurrencies and said that he would rather “have bananas” than crypto. It is clear that a gradual change is coming.

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