Gold Investors are Dumb, BTC’s a Good Investment: Mark Cuban. 

• Mark Cuban feels that Bitcoin is a gold investment and gold investors are dumb as f***. 
• Both gold and BTC are merely digital representations rather than actual physical possession. 
• Shark Tank star believes FTX collapse is not the failure of the entire crypto industry. 

Shark Tank star Mark Cuban is well known for his outspoken nature. Recently the owner of the NBA team Dallas Mavericks spoke about his opinions on Bitcoin and Gold investments. Cuban was speaking at an episode of “Club Random” podcast hosted by Bill Maher. Marks wants the price to fall further so he can buy more; he insulted gold investors, calling them dumb.

During the podcast, the host, Bill, said about his “very anti-bitcoin” stand. To which Cuban replied saying, 

“If you have gold, you’re dumb as ****.”

The host was baffled by the comment and asserted that the commodity never “never goes away,” plus gold can be hedged against anything. To which the billionaire replied by saying gold is not a hedge against anything and that what you have is the stored value of the commodity; the same is the case with BTC.

He emphasized by saying that rather than owning a physical gold bar, you own its digital representation, people do invest in gold, but they do not have it in real possession. Suppose you have a gold bar with you; anyone can beat you and take away the bar.

The host somewhat agreed with Mark and said that they are not mostly in gold but in other areas as well. Cuban asserted that he, too, is not mostly in BTC; it’s like something he owns. Moreover, common perceptions dictate a value associated with gold; the same is true with Bitcoin. 

When Cuban states that BTC is “a good investment,” he specifies that this is not telling people to buy the cryptocurrency. He further adds:

“I want bitcoin to go down a lot further so I can buy some more.”

The owner of the NBA team still believes deeply in the potential of cryptocurrency, despite the recent FTX collapse and ongoing crypto winter. He had explained earlier that the FTX saga is not a failure of crypto but merely due to some bad players in the arena. 

Cuban noted that he didn’t know all the details regarding the FTX saga and had previously stated that Sam Bankman-Fried might go to jail for a long time. 

Cuban prefer Bitcoin over gold as an investment. 

Although it’s a personal perception of gold and BTC, people can invest their hard-earned money in anything they want. But recent events in the crypto industry have made people lose trust in the system. Major drops in transaction volumes and traffic are signs of people moving away. On the other hand, gold has been here for ages, and the precious metal is loved and trusted by all. 

If lawmakers worldwide could come up with regulations for the industry, this could help regain the lost trust. 

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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