Mark Cuban: Invest in “Useful” Cryptocurrencies
Billionaire Mark Cuban has called for focusing on value when investing in crypto assets and weeding out projects around which there is “a lot of noise and little benefit.” He has said:
“Do you think there is a value proposition there that consumers or businesses will use? If you think the answer is yes and that it provides sufficient growth, then you invest. If the answer is no, you don’t do it.”
In an interview, the billionaire has mentioned Bitcoin and Ethereum. According to him, the leading cryptocurrency is an alternative to gold and a store of value, while the second is distinguished by the presence of smart contracts that allow users to create various dApps.
Cuban has also talked about the markets and has stressed they are “always overreacting and overreacting to news or expected events.” In his opinion, speculators and investors want to protect their profits, so they are in a hurry to get cash. He has said:
“But the reality is that whether rates go up to 3% or 4%, there aren’t many other good places to put your money. Although there may be a lull now, as we have seen in the past, people will return to the markets.”