30 September, 2019
Billionaire Mark Cuban believes that cryptocurrencies cannot be used in real life citing that such currencies are too complex and risky for 99% of the population. He claims that Bitcoin has no real value, and baseball cards, comics, and other art objects have a lot of meaning.
"Bitcoin is worth what somebody will pay for it. Did you ever see someone who collected baseball cards and they were really, really proud of their baseball cards because they kept on saying they were going to go up in price? Comic books are the same thing, even artwork. There’s no real intrinsic value." - explained Сuban.
He added that cryptocurrencies are not protected from hacking and carry many problems that need to be solved. Billionaire compared digital money with gold and emphasized that the precious metal also will not save in the event of a global economic crisis.
"Gold’s a religion. Now, people who are really into gold, they’ll tell you that if there’s a bad depression and things to go hell in a handbasket, if you own gold then you’ll be ok. [needs edit] No you won’t. You carry around a gold bar, someone’s going to hit your ass, knock you out and steal your gold bar."
He stated that he would rather invest in bananas than in cryptocurrency. According to Mark Cuban, bananas can be eaten, unlike digital money. The billionaire concluded that Bitcoin could be a means of accumulation at best.