In an interview with Kitco News on August 9, Cuban shed his light on Bitcoin and gold. According to Cuban, the finite supply of Bitcoin is a bonus to its investment value compared to Bitcoin. Cuban said:
“They’re both collectibles. The value is based off supply and demand. And the good news about Bitcoin is there’s a finite supply that’ll ever be created.”
Although Cuban believes that Bitcoin has an advantage over gold because of the finite supply, the billionaire is not a huge fan of both assets. Cuban said that he sees Bitcoin and gold as “being the same thing.”
When asked about gold, Cuban said:
“Hate with extreme prejudice is not enough. Hate with double-extreme prejudice with an ounce of hot sauce.”
In 2017, the Mavericks owner and Shark Tank investor revealed in a series of tweets that he was not a big fan of Bitcoin and that he believed the cryptocurrency was a bubble. Cuben, as of then seen as a bitcoin skeptic, revealed a few months later that he had bought a “relatively small” amount of the cryptocurrency.
Since the “bubble” tweets, Cuban surprisingly backed 1confirmation, a new venture capital fund for crypto-related investments. Furthermore, in January 2018, Cuban announced that beginning in the 2018-19 season, the Mavericks would be one of the first NBA teams to accept crypto in exchange for tickets and merchandise.
