Billionaire investor Mark Cuban has expressed his support for Dogecoin, Bitcoin and Ethereum on Twitter once again, giving his reasons to endorse each of the three mentioned currencies.
Mark Cuban Tells Twitter Why Cryptocurrencies Are Here to Stay
Dallas Maverick owner and billionaire Mark Cuban took to Twitter early on Monday delivering a new round of laudatory statements about the immeasurable potential of cryptocurrencies. Cuban discussed Bitcoin, Ethereum and Dogecoin, vowing his full support for what he sees as the future of payments.
Bitcoin and gold were first in focus, with Cuban calling them “financial religions.” Cuban acknowledged that there may be a cult within the cryptocurrency community, but the overall idea behind the ecosystem was just.
After all, crypto “is easy to trade, store and create, without any delivery issues” whereas the opposite is true for gold. Cuban argued that Ethereum is moving quickly in creating and enforcing smart contracts, leading to better, cheaper, and faster transactions and other services for all.
The current financial system, argued Cuban, was inefficient and “dependent on buildings full of people who add cost and friction” he explained. Last but not least, Cuban paid attention to Dogecoin, a currency that started as a joker and then rallied because of Tesla CEO Elon Musk’s half-joking endorsement. The renewed interest in Doge, though, has driven its price and development interest over the past few months.
“As long as more companies take doge for products/services, then Doge can be a usable currency because it MAY hold its purchasing value better than a $ in your bank,” Cuban argued during his Twitter offensive.
Cuban is already making sure that Dogecoin is taken more seriously with the owner investing in numerous businesses such as Newegg, Air Baltic, and EasyDNS, an ISP in Canada, which are now all accepting DOGE payments.
Not Everyone Holds Cryptocurrencies in High Regard
“The joke is now legit,” he stated flatly. Cuban previously took a swing at Robinhood, arguing that the limitations of the crypto trading app had been keeping Dogecoin at fairly low levels that would have otherwise allowed the currency to develop much quicker.
His statement comes at a time when Bill Maher held an extensive segment about what he called the lack of inherent value that many cryptocurrencies came along with.
During the Hathaway Berkshire’s annual shareholder meeting, Charlie Munger called the success of Bitcoin as a financial asset “disgusting”, while Warren Buffet lobbed a jab at Robinhood criticizing the model of allowing “anyone to invest” and calling the platform as created to appeal to the gambling-like sentiments in investment.
Meanwhile, Dogecoin’s value jumped 10% on the news that Elon Musk would talk about the currency during his Saturday Night Live appearance.