Mark Cuban Wants to Buy More Bitcoin and Thinks Gold Buyers Are Dumb

Crypto Update
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Mark Cuban. Source: A video screenshot, YouTube, The Filmi

Billionaire investor and TV personality Mark Cuban is looking to buy more bitcoin (btc) Despite the asset being down 75% from its peak.

“I want bitcoin to go down a lot so I can buy some more,” Cuban said in a recent podcast interview with talk show host Bill Maher.

After trading at an all-time high of $69,000 in November of 2021, bitcoin is down to around $17,400 at the time of writing.

bitcoin price 2020 Source: CoinGecko

Maher: I’m “Very Anti-Bitcoin”

During the interview, Maher described himself as a “very anti-Bitcoin” person who instead prefers gold, which he called a “hedge against everything else.”

In response to Maher, Cuban said:

“If you have gold, you’re stupid as hell.”

He acknowledged that both bitcoin and gold have useful properties as stores of value.

,[Gold] Not a defense against anything, is it? What it is is a store of value and you don’t own physical gold, right? “Gold is a store of value and so is bitcoin,” said Cuban, owner of the basketball team Dallas Mavericks.

The renowned investor continued by explaining why gold, if not held in physical form, cannot protect one’s wealth in times of crisis.

“You don’t own the gold bar, and if everything goes to hell and you happen to have a gold bar, you know what will happen? Somebody will kill you or kill you and take your gold bar.” Will take it,” she said.

a long crypto bull

Mark Cuban has been bullish on crypto for a long time. As recently as last November, the billionaire reiterated his belief in space, saying crypto will succeed Because “smart contracts will have a significant impact on building valuable applications.”

In the past, Cuba has largely been viewed as a Ethereum (ETH) advocate, called it “the closest we have to real currency,” and better than bitcoin.

,[…] Applications that leverage smart contracts and extensions on Ethereum will dwarf bitcoin,” Cuban said on journalist Laura Shin’s Unchained podcast in April of 2021.

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