Mark Cuban compares the crypto boom to the dot-com bubble, defends Robinhood, and calls for stable coin regulation in a new interview. Here are the 10 best quotes. | Currency News | Financial and business news

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Marc Cuban.

Steve Jennings / Getty Images

Mark Cuban praised cryptocurrencies and Robinhood for encouraging young people to invest. The “Shark Tank” star compared bitcoin to gold and called for stablecoins to be regulated. The billionaire advised parents to join TikTok and YouTube to understand how kids learn today.

Mark Cuban praised cryptocurrencies for inspiring young people to invest, defended Robinhood, and compared bitcoin to gold on “The Prof G Pod with Scott Galloway” this week.

The “Shark Tank” investor and billionaire owner of the Dallas Mavericks also likened the crypto boom to the dot-com bubble, stressed the need to regulate stablecoins, and recommended that parents join TikTok to better understand their children.

Here are the 10 best quotes from the Cuba interview, slightly edited and condensed for clarity:

1. “Crypto reminds me of 1995. It’s not so much about all the tokens and trading and all the frenzy that goes on – it reminds me more of the dot-com stock market. of crypto is the networking platforms themselves and the ability to connect with smart contracts. “

2. “You see millions and millions of people investing in crypto because it’s so much cheaper and easier than investing in stocks. I don’t think we fully understand the impact that crypto has eu. ”

3. “Robinhood’s gamification has done a lot of good, contrary to what a lot of people think. We’re not going to close the income gap by taking a hammer and crushing everyone’s income, because it isn’t. There is no efficient way to get this money to the people who need it most. Reducing income inequality is really about giving people access to sizable assets.

4. “We should demand digital accounts for everyone. It was hard to give millions of people their stimulus checks! It is just crazy in every way. You can say a lot of negative things about Robinhood and its peers, but they allow anyone of a minimum age to own a sizable asset at a very, very low cost. “

5. “AI, AI, AI. Crypto, crypto, crypto. That’s it.” – Cuba’s advice to people in their early twenties asking them what they should learn. “

6. “Bitcoin is a store of value, just like gold. Bitcoin highs – people who eat, sleep, and breathe bitcoin and think it’s going to save the world – believe it’s a currency of reserve, and that when fiat collapses for whatever reason, bitcoin will slide straight as a white knight. I don’t see that at all. “

7. “Gold is sold as an apocalypse hedge, an inflation hedge. When there are things that look really bad, like a pandemic, it doesn’t really respond.

8. “They’re going to have to regulate stablecoins. There’s so much money out there. If any of them were a Ponzi scheme or a fraud, it would create significant instability.”

9. “We are in this war to the death between blockchains. Not all of them will survive. It will really be applications and innovation that will make them successful, just like in the early days of the Internet. “

10. “Parents need to understand how kids learn today because it’s different. You need to be on TikTok because you need to understand how they consume information. Same with YouTube. – Cuban provided the comment. example of his son learning gross margin and other business concepts by watching “Shark Tank” clips on TikTok.

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