Shark Tank billionaire investor Mark Cuban sees cryptocurrency as “straight” like the dot-com bubble.He said bitcoin and a few other cryptocurrencies are similar to dot-com stocks like Amazon and Ebay that have survived. From the bubble burst and grow
Mark Cuban Likens Crypto as Dot-Com Bubble.
Shark Tank lead actor Mark Cuban compared what he felt was a bitcoin bubble with the dot-com bubble on Monday after the cryptocurrency’s price soared, the National Basketball Association (NBA) owner Dallas Mavericks tweeted. that:
Look at cryptocurrency trading, it’s like a straight internet stock bubble, I think BTC, ETH, and a few others are similar to those created in the dot-com era, escaped from a broken and booming bubble like AMZN, Ebay. And Priceline, many will not.
“Along the way, many fortunes will be created and lost, and we will find out who has a belly for Hod and who doesn’t. My advice? Learn how to hedge the risk, ”he elaborates.
At the time of writing, his tweets received 895 comments.It also received more than 1.7K retweets and more than 10.8K likes.Many on Twitter consider Cuban comments to be good for BTC and ETH.
Among the commenters was Tyler Winklevoss, co-founder of Gemini cryptocurrency exchange, who argued that cryptocurrencies. Unlike stocks, it’s not right. Cryptos like BTC and ETH are networks, not stocks or company stocks, they’re like early internet owners, comparing them to stocks, comparing apples to oranges, ”he explains. With Cuba After discussing bitcoin as a value store, Shark Tank star reiterated his stance:
I say BTC is like gold, it’s a storehouse of value without any other utility.
Peter Schiff, the gold snifter, said to the Cubans: “Mark, you can’t keep what you don’t have. Gold is a valuable treasury because you are storing it for future metal. Jewelers need gold, computer chip makers need gold, dentists, etc. But nobody needs bitcoin now, so nobody wants in the future. ”
In a follow-up tweet, Cuba wrote:
During the dot-com bubble ‘Experts’ try to argue what the price of the day is. Crypto, like gold, is demand and supply driven. All the stories about debt reduction, orders, etc. are just an offering The biggest sales channel is scarcity versus demand.
Gemini’s co-founder disagreed. “The story of the bad manners is fact. Have you looked at the Fed’s balance sheet recently? What is demand and supply? The value of the Picasso land or the Dallas Mavericks franchise also depends on supply and demand, ”he told Cuba.
Do you agree with Mark Cuban about bitcoin? Let us know in the comments section below.
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