Billionaire tech investor Mark Cuban has publically declared that he sees Bitcoin and Blockchain or distributed ledger technology as the way of the future.
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Cuban argued cryptocurrencies like bitcoin were just like conventional stocks in the sense that investors can buy and sell.
“…it’s interesting because I think there are a lot of assets that have values based on just supply and demand. You know, most stocks, they don’t have any intrinsic value, no true ownership rights, no voting rights, you just have the ability to buy and sell those stocks. They’re like baseball cards and I think Bitcoin is the same thing…”
Cuban also confirmed that he has already invested in bitcoin as well as some initial coin offerings (ICOs).
“…I have bought some, bought it through an ETN based on a Swedish exchange because that gave me liquidity. I am also involved with ICOs, actually token sales, because I think Blockchain is a great platform for future applications…”
In June, Cuban tweeted the following:
I think it’s in a bubble. I just don’t know when or how much it corrects. When everyone is bragging about how easy they are making $=bubble https://t.co/hTrV5DeWNd
— Mark Cuban (@mcuban) June 6, 2017
Numerous prominent financial industry doyens have voiced their oppositional beliefs on bitcoin.
And the “Wolf of Wall Street”, Jordan Belfort said, “Be very careful not to invest a lot of money into something that could vanish very quickly.”