Bitcoin early adopter, Mark Cuban explains why he has to portfolios and why 90% of his crypto is occupied by Bitcoin and Ethereum. Believes that Bitcoin is far superior than Gold and if public’s faith over Bitcoin is stronger so is the value of Bitcoin.
Mark Cuban, a globally famous investor and multi-billionaire has always been bullish about whole crypto space. He is also fond of comparing those days when internet was invented with the invention of blockchain.
He is also amongst those few people who were early adopters of Bitcoin and bought the world’s first cryptocurrency. In one of his recent interviews Cuban told that he has two investment portfolios. One that relates to traditional assets and finance and the other which comprise over crypto assets. Cuban informed that in his second portfolio out of 100%, 60% belongs to Bitcoin while 30% is consisting of Ethereum. As regards the remaining 10% he told that it consists of several crypto coins and digital assets.
From day one, Cuban had strong faith that one day Bitcoin will change the course of traditional finance. His belief continued to grow stronger and stronger with the continuous surge of Bitcoin’s value.
He also revealed that at one point in time in 2012, he too had grown doubts over Bitcoin. He thought that Bitcoin as “currency” is quite difficult to conceptualize for an average person belonging to financial industry. How Bitcoin would then achieve mass adoption, particularly at the global level, he thought at that time. But even with this lack of confidence, he reminded himself that Bitcoin is something which could be a great source of storing value.
Cuban also stated that if people are persuaded that Bitcoin is better than gold, then Bitcoin will continue to grow in terms of value. He told that there is no room for the arguments that Bitcoin is either lesser or equivalent to Gold. In fact it is far more superior than Gold from every bit of angle, claimed Cuban.
This is why he is holding tight his Bitcoins and has never opted to sell even a single Bitcoin under his possession.
But his passion is not limited to Bitcoin. His second passion is the acquisition of second largest and potentially the best crypto coin, Ethereum. He defines Ethereum to be something which is very close to fiat and can be regarded as “currency”. What he likes about Ethereum is that it is built and operates on the basis of smart contracts.
He stated that with the launch of Ethereum, an evolution was brought into an innovation. He appreciated Ethereum’s prominent and advanced features such as smart contracts and Decentralized Finance (DeFI). For this reason, his crypto portfolio is holding 30% assets in the form of Ethereum, told Cuban.