Bitcoin is better than Gold due to its Finite Supply: says Mark Cuban
Mark Cuban, a billionaire, and owner of the Dallas Mavericks Basketball Team has expressed mixed feelings about Bitcoin and Gold.
On 9th August 2019, Mark stated his feelings in an interview about his hate towards both gold and bitcoin but supporting bitcoin because it has a limited supply as compared to gold because later will continuously keep coming in the market as a result of mining.
Mark Prioritize Bitcoin over Gold Although He Hates both
Mark at least claimed that Bitcoin can be an alternative to gold. His remarks about both gold and bitcoin are as following:
I hate gold. Gold is a religion. There’s some fundamental value to gold, but it’s a collectible. I see gold and Bitcoin as being the same thing… Their value is based off supply and demand. The good news about Bitcoin is there’s a finite supply that will ever be created. And the bad news about gold is they’ll keep on mining gold.
Gold and Digital Gold
The bitcoin is considered as a digital gold due to its elite importance in the world of digital currency. Mark also compared both material and digital assets due to their volatile nature with regards to price values.
Sonya Mann from Zcash Foundation has cleared her statement on bitcoin that seems more optimistic than Mark Cuban.
Bitcoin is deflationary by nature, due to the capped 21 million supply and the clever incentive structure that has reliably safeguarded its inviolability. The emergent order governing Bitcoin, as both a software product and a phenomenon, is undeniably path-dependent, attributable in large part to Satoshi Nakamoto’s design decisions. There is no guarantee that BTC will increase in value, but past trends and the underlying supply-demand dynamics suggest that it’s a reasonable long-term prediction.
Mark Cuban Views on Cryptocurrency
On the one hand, he considered both assets the same but on the other hand, he prioritized the bitcoin due to its finite circulating supply in the markets.
On the whole, he is against the cryptocurrency and this is proved by his recent comment on Libra, Facebook digital cryptocurrency. While talking to a media agency, he called Libra a “big mistake” which is backed by Facebook.
Safe Investment According to Cuban
Mark Cuban believes in putting the money in banks and called it a safe investment without any risky nature as there is no risk of losing money.
If you need “safe”, just put the money in the bank. Just sleep well at night. There’s really nothing wrong with that.
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