Mark Cuban noted that the US geopolitical dominance is weakening, and this will provoke increased instability in the world. According to the investor, the possible tax cuts promised by former US President Donald Trump will cause the Bitcoin rate to rise. He noted that in countries experiencing hyperinflation, Bitcoin has already become a “safe haven” and is widely used as a means of preserving savings from depreciation.
“Bitcoin could become a global reserve asset due to increasing global instability and inflationary pressures,” Cuban said.
The billionaire suggested that in the event of a significant deterioration in geopolitical and economic conditions, the role of the first cryptocurrency may increase even more. At the same time, the investor did not specify how much the Bitcoin rate would increase in such a case.
Earlier, Cuban said that former US President Donald Trump and current President Joe Biden do not understand cryptography. Digital assets are featured in the candidates’ platforms in order to win the upcoming elections in the fall of 2024.
Source: Bits
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