Bitcoin Prices Should Fall Further So I Can Buy More, Says Mark Cuban

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Mark Cuban prefers BTC to gold

Mark Cuban is still bullish on Bitcoin and wants prices to continue falling. During a Club Random podcast with host Bill Maher, the Shark Tank said he wants the price of BTC to drop more so he can buy more of it.

The shark prefers investing in digital assets to gold because the latter is not worth it.

Gold is a store of value, just like bitcoin,” he added after Maher suggested a comparison. If everything went wrong in a hand basket and you had a gold bar, you know what would happen? Someone would beat you or kill you and take your gold bar. It’s useless.

Mark added that owning gold these days is like owning a digital transaction, but he likes investing in Bitcoin, not gold and similar valuable tangible items.

At the time of writing, Bitcoin was trading at $16,880.89 with a 24-hour trading volume of $12.4 billion.

The crypto industry is currently going through two winters. A series of bankruptcy filings and accidents will be the main highlights of this year. The Federal Reserve’s hawkish policy stance was supposed to help the economy weather rising prices, but it hurts in the short term. The Russo-Ukrainian war, the crash of Terra (LUNA) and the recent collapse of FTX, are the major incidents characterizing this year’s crypto storm.

Mahrer argued that Bitcoin is not worth buying because it is not backed by anything. While Mark retorted, saying that even “having a stake in 90% of the companies” was pointless.

In the hour and 12 minute podcast, host and guest agreed that: San Francisco is no longer a good place to operate/manage or start a tech business, with Mark calling the California city pretentious.

According to the World Gold Council, the international authority that sets standards and promotes the adoption of gold noted in its 2023 outlook that inflation and monetary policy would be key in determining its performance.

The owner of the NBAs Dallas Mavericks pointed out that an entire industry is being pushed out.

The whole tech industry is off to a good start, okay, that’s growth, that’s you know the new thing, and now it’s just people shitting on the streets, he said. added.

Cuban is a seasoned investor and entrepreneur. He doesn’t disagree or downplay the concept of Bitcoin or Blockchain, but he did express concerns about the volatility of BTC. In 2017, he said investing in BTC was okay as long as it was done with reserve money and it was a gamble.

Andrew is a blockchain developer who developed his interest in cryptocurrencies during his post-grad studies. He is a fine observer of details and shares his passion for writing while being a developer. His backend blockchain knowledge helps him bring a unique perspective to his writing

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