Bitcoin broke through its historical high this week, and Mark Cuban, the well-known billionaire and owner of the NBA Dallas Mavericks, who has always supported cryptocurrencies, recently revealed that he has also participated in this round of price increases. He chooses to buy Bitcoin every day instead of gold.
In an interview with CNBC, Mark Cuban stated that he is not sure about the specific allocation of cryptocurrencies in his investment portfolio, but he is pleased with the rising trend of Bitcoin. According to Cryptonews, Mark Cuban disclosed last year that approximately 60% of his cryptocurrency investment portfolio is Bitcoin, with the remaining 30% mainly allocated to Ethereum, and the other 10% consists of various other tokens for diversification.
Mark Cuban pointed out that the utility of Ethereum is the key to its future success. He mentioned that Ethereum is slightly different from Bitcoin because its value is more affected by utility. Whether Ethereum can achieve further utility depends on whether Ethereum spot ETFs can be approved.
However, Mark Cuban reiterated that there is still a major flaw in the cryptocurrency field, which is the lack of an application that is widely welcomed by all age groups, including grandparents. He hopes that there will be an application that is so popular that the older generation will find it necessary to use because everyone else is using it.
Mark Cuban’s claim that investing in Bitcoin is better than gold has sparked dissatisfaction from Peter Schiff, the majority owner of gold and founder of SchiffGold. The price of gold broke through $2,160 this week, also reaching a new historical high. Peter Schiff responded on Twitter, stating that “facts are facts”. This is not the first time the two have clashed. As early as 2022, Mark Cuban stated that people who invest in gold are extremely foolish, to which Peter Schiff counterattacked, saying that Mark Cuban lacks understanding of both Bitcoin and gold and that “I agree that making money is more important than understanding money, but it’s not the case for those who listen to his advice.”
In related news, SEC Chairman’s paranoia! Mark Cuban: The Ripple case proves that “not all buyers” are investors. Mark Cuban unleashes a barrage of criticism against the SEC’s regulatory nightmare, asking why they are not catching all the scams on the street. Mark Cuban also states that, similar to the development of the internet, most imitative blockchains will eventually perish.
(Source: 
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