Shark Tank Investor – Mark Cuban
Highlights
- The Shark investor felt that the digital currency works better during economic crises.
- Mark Cuban picked Bitcoin over gold in his latest interview.
- Mark’s statements could potentially impact the investment strategies of other investors.
The debate regarding the better currency between gold and Bitcoin has been going on for quite some time among financial experts. This entire discussion has become further relevant amidst the financial crisis. Mark Cuban is the latest entrant who recently expressed his choice to pick Bitcoin over gold.
In a Wired interview, the Shark investor was asked about his take on what works better during a financial crisis – gold or Bitcoin. Replying to this, Mark Cuban publicly stated that Bitcoin was a better option. His statement was, ‘People look at Bitcoin as a better version of gold, and I agree with that.’
Why Did Mark Cuban Choose Bitcoin, Not Gold?
In the backdrop of economic dips, Shark investor Mark Cuban described Bitcoin to be a ‘better version of gold.’ Plus, speaking to Wired, the Shark Tank star said that this digital currency is a ‘safe haven’ for investors at times when matters related to the economy are vulnerable to risks.
Going ahead in the interview, Mark emphasized the many benefits of Bitcoin over gold during economic downturns. Firstly, gold (particularly in bar form) is heavy and can be easily stolen. On the other hand, Bitcoin is not only easy to carry but also works great for smaller transactions.
Secondly, according to Mark, it gets quite difficult to exchange gold for goods and services. Additionally, the Shark believed that ‘interest in gold isn’t based off the supply and demand of jewelry.’ People view it as an option during times when the economy slips or in other bad circumstances.
Contrary to this, Mark Cuban claimed that Bitcoin is ‘easier to buy and sell.’ Plus, users can fractionalize it, buy things, and even transfer the digital currency internationally. This is why the Shark added, ‘And so I think it has more value than gold.’
Mark Cuban also stated his inclination towards digital currencies in a previous interview with Paul Grewal.
Importance Of Mark Cuban’s Statements
In the broader picture, both Bitcoin and gold can be considered as hedges against unstable economic situations. However, based on the statements by Shark investor Mark Cuban on Wired, Bitcoin can be viewed as a more feasible pick during times of economic crisis.
The public endorsement of Bitcoin over gold by the Shark becomes significant during economic turmoils. Mark’s opinions demonstrate that there is a rising trend among investors to identify the potential of Bitcoin as a hedge against economic setbacks.
As seen through the Shark investor’s statements, this perspective shift holds the potential to impact the investment strategies of others. Ultimately, all of these could speed up Bitcoin adoption in the financial world.
Entrepreneur, auteur, raconteur. Rob Merlino is a blogger and writer who enjoys the Shark Tank TV show and Hot Dogs. A father of five who freelances in a variety of publications, Rob has a stable of websites including Shark Tank Blog, Hot Dog Stories, Rob Merlino.com and more.
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