American billionaire Mark Cuban spoke about investing in cryptocurrencies. In his opinion, you need to invest only in those crypto assets that have a value proposition.
In a recent
interview Dallas Mavericks owner Mark Cuban said that investors in digital currencies should be able to “screen out” projects that are a lot of noise, but in fact they do not provide any benefit. Kuban paid special attention to bitcoin and ether, comparing them with each other. He called Bitcoin an alternative to gold and a store of value, while ether is different in that, thanks to the use of smart contracts, various decentralized applications are created on the basis of this network.
According to Cuban, investing in crypto assets should be treated the same way as investing in any other asset. It is necessary to study what benefits digital assets can bring to the public, and whether they have values that individuals or organizations can use. If the answer is no, then it cannot be called an investment, the billionaire believes.
“In 1995, when all companies were going online to build websites, people were excited and invested in them just because they went online. The same thing is happening now with cryptocurrencies. Therefore, of all the proposals, it is important to “distinguish the wheat from the chaff,” Kuban said.
He commented on the depreciation of cryptocurrencies, emphasizing that any market always reacts sharply to any events and news. Speculators and investors seek to protect their funds and not miss out on profits, so they rush to transfer money into cash. However, sooner or later people will return to the market, Kuban concluded.
Earlier, Cuban said that people are less likely to pay for tickets and goods of the Dallas Mavericks club with bitcoin in order not to waste this crypto asset. To do this, they prefer to use the DOGE meme cryptocurrency.
Source: Bits
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