Billionaire Mark Cuban announced that he has concentrated 60% of his cryptocurrency portfolio in Bitcoin, 30% in ether, and 10% in other digital assets.
Explaining the reasons for this particular distribution during the release of The Delphi Podcast, Cuban said that the recent success of decentralized finance (DeFi) and non-fungible tokens (NFT) made him believe in the prospects of the cryptocurrency space. According to Cuban, Ether, rather than Bitcoin, is more in line with his ideas about the correct form of money. This is facilitated by the fact that Ethereum has a decentralized economy based on smart contracts.
The development of Ethereum Cuban compares to the rise of the Internet space in the late 90s.
“When the Internet began to enter our lives, all kinds of applications began to appear that could change the course of things as we knew it in the analog world. For example, this is how streaming appeared. If before that I wanted to hear about basketball from Indiana University, I couldn’t do it on the radio in Dallas, ”he said.
Cuban does not build such parallels with Bitcoin, since he sees in it primarily a store of value and an alternative to gold.
“With bitcoin it was possible to make transfers. And that in itself was already great. He was a store of value, and that’s great. This is the best alternative to gold and it’s phenomenal. He is taking money out of gold and will continue to do so. That is why I hold bitcoin, but it cannot be compared to the Internet, ”added the billionaire.
In September 2019, Cuban said that he would rather buy bananas than bitcoin, explaining that at least they can be eaten, but he has changed his position since that time. In January, he announced that he has continued to hold the cryptocurrency since the early days of Coinbase and “never sold anything.”
The remaining 10% of Cuban’s portfolio may include Dogecoin. His recently owned Dallas Mavericks NBA began accepting cryptocurrency as ticket payments, and Cuban himself admitted that DOGE could rise to $ 1.