Billionaire Mark Cuban: ‘I See Gold And Bitcoin As The Same Thing’

The famous owner of the professional basketball team Dallas Mavericks and billionaire Mark Cuban recently expressed his feelings about gold and Bitcoin. In the latest cryptocurrency news, we have Cuban saying that gold and Bitcoin are practically very similar.

He delivered his remarks in an interview with Kitco News on August 9th, when he noted that he views Bitcoin’s finite supply as a bonus to its investment value. He said:

“They’re both collectibles. The value is based off supply and demand. And the good news about Bitcoin is there’s a finite supply that’ll ever be created.”

However, the billionaire Mark Cuban also said that he sees gold and Bitcoin as “being the same thing” and that he has a very low view of gold. When it comes to his stance towards the precious metal, Cuban emphasized that to convey his feelings on gold as an investment, he has to say:

“Hate with extreme prejudice is not enough. Hate with double-extreme prejudice with an ounce of hot sauce.”

As previously reported by many best cryptocurrency news sites, the origin of the term “digital gold” to refer to Bitcoin is yet unknown. However, one theory is that it came into vogue after the New York Times journalist Nathaniel Popper published his book “Digital Gold” four years ago (in 2015).

At present time, we can see that the billionaire Mark Cuban is not the only one who says that gold can be compared to Bitcoin. In fact, the altcoin news feature tons of experts giving responses as to whether they consider Bitcoin to be digital gold.

One of them is Sonya Mann, who is the head of communication at the Zcash Foundation. She discussed about gold and Bitcoin and the finite quality and supply/demand factors. Even though she is more optimistic than the billionaire Mark Cuban, Mann is also more descriptive with her statement:

“Bitcoin is deflationary by nature, due to the capped 21 million supply and the clever incentive structure that has reliably safeguarded its inviolability. The emergent order governing Bitcoin, as both a software product and a phenomenon, is undeniably path-dependent, attributable in large part to Satoshi Nakamoto’s design decisions. There is no guarantee that BTC will increase in value, but past trends and the underlying supply-demand dynamics suggest that it’s a reasonable long-term prediction.”