Mark Cuban thinks ethereum is the true currency as he said in an interview with Delphi Podcast which we talk more about in our latest ethereum news today.
Cuban talked about his experience with cryptocurrencies and the current state of the market as well as the reasons behind the bullish perception of BTC and ETH. For him, cryptocurrencies and their applications are the next steps in the evolution of the Internet. Claiming that BTC took away money from gold and will continue to do so, the billionaire separated the applications between the cryptocurrencies. For him, the most exciting part of the crypto space is the emergence of decentralization and decentralized finance.
In that sense, he sees ETH as comparable to the rise of the Internet and its multiple use cases as he mentioned:
“When the Internet started to happen, you started seeing all these applications that could disrupt things that happened in the analog world (…). Now, you look at what’s happening and you saw smart contracts come along and (…) the fact that they’re decentralized, that’s what changed the game.”
The entrepreneur believes that in the past 25 years, internet costs have been dramatically reduced to the point where the users can enjoy services like e-mail storage free of charge. Combined with the “decentralization, governance” as well as smart contracts, the Internet applications increased dramatically. Cuban was aware of the use cases for BTC in 2012 and believed that its limitations were going to prevent it from “working out” however, he outlined that the best application for it was a store of value. He stated:
“ (In 2012) people said bitcoin is a currency, and (I thought) ‘It’s just not going to work.’ But, the entire time, I said it was a store of value where, if you could get people to believe that it was a better alternative than gold, because of its algorithmic scarcity, the price is going to go up.”
His full entry down the rabbit hole started once he was exposed to NFTs this year. From here on, he jumped to smart contracts and ease of programming with Solidity which he described as a game-changer. Another thing that crypto shares with internet companies is the people were unable in the past to understand the value of this new asset class. In Cuban’s portfolio, the allocation of cryptocurrencies stands at 60% BTC, 30% Ethereum, and 10% other tokens. Now, Mark Cuban thinks Ethereum is the real deal.
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