Here’s Why Mark Cuban Wants Bitcoin to Go Much Further

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The reason may surprise you.

Key Points Mark Cuban is a billionaire investor and proponent of Bitcoin investing. He wants the Bitcoin price to drop so he can buy a lot more of it. hold long term) when the price is low.

Mark Cuban is a billionaire investor well known for his role in Shark Tank as well as his ownership of the Dallas Mavericks.

He is also a fan of cryptocurrency investing – which is why it may come as quite a surprise that he indicated in a recent interview with comedian Bill Maher that he hopes the price of Bitcoin will go down.

Given that Cuban has already indicated that the bulk of his crypto investments are in Bitcoin, it may seem even less logical at first glance that he wants the price of the virtual currency to fall further. But there is a good reason why he made this statement.

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Cuba wants Bitcoin price to drop for one simple reason

So why is Cuba hoping for the price of Bitcoin to drop?

Cuban told Maher on the comedian’s podcast that “I want Bitcoin to go down a lot more so I can buy more.”

Essentially, Cuban believes that in the long run, Bitcoin is going to perform well as an investment. In fact, he explained why he thinks virtual currency is a solid asset, stating that it is a store of value protected by a digital ledger. For this reason, Cuban believes that Bitcoin is a better investment than gold, because if everything goes wrong, someone could take your gold bullion while your Bitcoin investment does not.

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Since Cuban believes Bitcoin has strong potential to see its value rise, he hopes the price will drop temporarily to give him the chance to buy more coins at a discount before things turn around.

In other words, he was simply indicating that he thought he would be able to take advantage of the opportunity to buy a valuable asset at a low price and resell it much later. And that’s a goal that any savvy investor will understand.

Cuba’s investment style makes a lot of sense

Whether you think Bitcoin is a good investment or not, Cuban’s desired strategy of taking advantage of a temporary price reduction to increase his asset holdings is a good approach.

In fact, it’s one that other famous investors like Warren Buffett have endorsed. Buffett said he gets “greedy when other people are scared” and likes to buy stocks on the sell side during a downturn because then he has the opportunity to earn bigger returns when the price inevitably bounces back with the downturn. time.

Ultimately, it can be scary when an asset you own – or an asset you believe has strong growth potential – starts to see its price drop. But, if you’re convinced it’s a good long-term investment, like Cuba does with Bitcoin, you shouldn’t be afraid of a downturn that you think is temporary. Instead, you should be grateful that the asset is on sale and buy as many as you can to take advantage of the bargain.

This does not necessarily mean that everyone should start buying Bitcoin if the price drops. You will need to do your own research to find out if this cryptocurrency or others are a good investment. But it does mean that you shouldn’t always view slowdowns as a bad thing, even if you lose a little money on paper for a short time.

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