Mark Cuban Wants Bitcoin Prices To Lower, Here’s Why!
American billionaire and Shark Tank investor Mark Cuban has doubled down yet again on his bullish views on cryptocurrency, especially Bitcoin, despite the current crypto winter.
Bitcoin vs Gold
In a recent episode of the “Club Random” podcast hosted by comedian Bill Maher, Cuban claims that he wants major cryptocurrency Bitcoin to drop in price even more than it currently is, so that he could purchase more of it.
“I want Bitcoin to go down a lot further so I can buy some more.” The billionaire said.
Maher, who seems to be more skeptical on the idea of cryptocurrencies, challenged Cuban’s ideas by comparing crypto to gold, which he claims unlike Bitcoin, “never goes away, it’s worth something, and you can always sell it.”
In response, Cuban defends Bitcoin, arguing “Gold is a store of value and so is Bitcoin. If everything went to hell in a hand basket and you had a gold bar you know what would happen? Someone would beat the f–k out of you or kill you and take your gold bar. It’s useless.”
— Club Random with Bill Maher (@ClubRandom_) December 26, 2022
Bill Maher also argued that he doesn’t think that Bitcoin is worth buying because the digital currency isn’t necessarily “backed by anything.” Cuban however, responded to this arguing that the same thing could be said about holding shares in “90% of companies out there.”
Cuban’s Bullishness On Crypto
The American billionaire wasn’t always a heavy supporter of cryptocurrencies, in fact back in 2020, Cuban doubted crypto’s use case by arguing that it was too difficult to trade as a commodity.
His views quickly changed in 2021 however, when he began to talk about his bullish views on cryptocurrencies like Bitcoin, Ethereum, and even the popular memecoin Dogecoin, which he quickly adopted to become an acceptable payment for his NBA team Dallas Mavericks.
This past year Mark Cuban has made a number of bullish predictions on cryptocurrencies like Ethereum and Bitcoin, which he argues will undoubtedly survive the crypto winter and continue surging in the near future.