Mark Cuban Compares Gold And Bitcoin As ‘A Store Of Value’

December 26, 2022 8:12 pm Comments

Mark Cuban recently commented on a podcast and shared his latest opinions on popular ‘store of value’ assets like Bitcoin and gold.

This is not the first time that Cuban has commented on crypto as he has previously been very outspoken about what he thinks is the future of the industry and where it will go.

Essentially, it looks like he is still extremely bullish on Bitcoin and is intending on accumulating more of it at lower prices.

Based on the data, Bitcoin is currently still far from its all time high at around $69k last year and has been hovering at the 16k to $19k range for a while.

What was interesting in the podcast was Cuban’s comments on gold being a potential store of value asset.

Instead, he said that having gold was a bad idea and that it would not be able to serve as a hedge against anything.

FoxBusiness reports:

In response to Maher saying he has invested in gold, Cuban said, “You know what? If you have gold, you’re dumb as f–k.” He also appeared to push back against the idea that investing in it was a “hedge against anything.”

“Gold is a store of value, and so is bitcoin,” Cuban told Maher.

He later went on to say, “When you own gold, all you own is a digital transaction.” Maher said that was the reason “we’re not mostly in gold,” prompting Cuban to respond, “And that’s fine. I’m not mostly in bitcoin, right? It’s just something I own.”

“But it’s a digital transaction, and it’s a store of value – that’s the term for it, a ‘store of value,’” the billionaire investor continued. “So, people perceive that there is a value associated with gold, and there’s value associated with bitcoin.”

One thing that the billionaire has stressed a lot in the past is not just the potential ability of digital assets like Bitcoin to serve as a store of value, but also the fact that the blockchain technologies that power these assets have a huge amount of potential for growth.

Specifically, Cuban has talked at length about the specific utilities that can be provided by specific crypto tokens which is one of the reasons why he is not phased about the recent fallout of FTX.

The recent events do not change the fundamental value of crypto and blockchain which means that investors that understand that will actually see the current market as a major opportunity.

Cuban calls it ‘separating the signal from the noise’ which is quite an accurate way to describe it.

After all, this is not the first time something like this has happened in crypto’s history and it will pass just as all things have passed in crypto history.

Fox concludes:

Cuban has weighed in on cryptocurrency multiple times in the past, including in February, when he appeared on “Cavuto: Coast to Coast” and in November while talking to TMZ Sports.

He discussed utilities associated with crypto on the show, saying that bitcoin “is like an alternative to gold” and “a store of value.” People should approach investing in crypto like any other asset class, thinking about “value proposition” and growth opportunities, he said.

Last month, amid the ongoing FTX scandal, Cuban indicated to TMZ Sports that he continued to believe in cryptocurrency.

“Just separate the signal from the noise,” Cuban said to the outlet. “I mean, there’s just been a lot of people making a lot of mistakes, but it doesn’t change the underlying value and applications of it.”

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