Bitcoin is only worth what you think someone will pay for it. This was the Mark Cuban message from Shark Tank. In an interview with co-host Kevin O’Leary, Cuban made it clear that he was not a fan of more specific cryptocurrencies and Bitcoins. This does not surprise the billionaire. But surprisingly, he thinks the Blockchain has intrinsic value.
Mark Cuban: I don’t have crypto
Mark Cuban has made it clear that he does not hold crypto. He mainly notes this because he appreciates it differently from most invested people. Especially with Bitcoin, people appreciate it as a store of value. But value only comes from people who see value in them.
Gold on Bitcoin to store value?
“.. I don’t prefer either at the moment, because I’ve never been a fan of gold”
Cuban argued that people buy Bitcoin and gold because they think that if certain events (such as an epidemic) occur, others (potential buyers) will be available to buy at that value.
His argument was part of the classic debate across the crypto community a few days ago. Is Bitcoin a safe haven? Recent events have shown that Bitcoin is not a refuge but a risky asset.
Cuban finishes talking about cryptocurrencies by saying he thinks it’s pure speculation. What about blockchain?
A blockchain is actually software
Mark Cuban admitted that there are specific use cases for the blockchain, that means they can have intrinsic value. But it’s not as high as the cryptocurrency trade.
In one example, the investor Shark Tank explains how the blockchain brings efficiency, transparency, security and independence to companies. This gives the usefulness of the blockchain.
Cryptocurrencies allow blockchain and their importance remains vital for the ecosystem. But are they too expensive?
It could be argued that a number are influenced by a number of other factors. The influence of whales, pumps, FOMO and hype means that it is almost impossible to determine the true price of a cryptocurrency.
There is also the issue of adoption, token burns and other factors specific to each project. The price is precious, for example, Bitcoin in 2017 was at $ 19,000, in 2018, it fell to $ 3,000 and at the time of writing, $ 9,000.
Despite these changes, it remains clear that cryptocurrencies are the future.
Summary
Article name
Mark Cuban reiterates that Bitcoin has no intrinsic value
The description
Mark Cuban has once again said that he doesn’t think Bitcoin has intrinsic value. In an interview with Kevin “Mr. Wonderful”, he explains why.
Author
John Kiguru
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CoinGape
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