Mark Cuban defends Bitcoin, says anyone investing in gold is ‘dumb as f***’ 

Dallas Mavericks billionaire owner Mark Cuban defended Bitcoin this week and questioned gold investments.

and club random In an episode of the podcast released Monday, host Bill Maher said he was “extremely anti-Bitcoin” and believed in the value of gold.

“I want to make bitcoin cheaper and more affordable,” Cuban replied. He added, “If you have gold, you’re an idiot like a f***.”

Bitcoin has dropped more than 60% this year.

Maher replied that gold “never goes away” and is “like a hedge against everything else”, to which Cuban replied:

“No, but it’s not a hedge against anything, right? It’s a stored value and you don’t own physical gold, right? … Gold is a stored value and so is Bitcoin. “

of shark tank The host continued, “This is a digital transaction, a stored value. So people recognize that there is value associated with gold, there is value associated with Bitcoin.”

He pointed out that investing in gold generally does not mean owning real gold. Do you know what would happen if you fell in and had a gold bar? Someone would beat you up or kill you and take the gold bar.”

Cuba has previously condemned its investment in gold. For example, in 2019, he said in his Kitco News interview: money is a religion ”

Cuba was also recently complicit in the bankruptcy of crypto exchange FTX, shocking the entire industry and spurring calls for crypto regulation. , he said in an interview with TMZ:

“I don’t know the details, but if I were him, I’d be scared to go to jail for a long time. That’s certainly bad. I actually talked to the guy and he’s smart.” I thought, but I didn’t expect him to take someone else’s money and use it for personal purposes.

Despite the demise of FTX, Cuban said he still believes in the potential of cryptocurrencies.

“Separate the signal from the noise,” he suggested. “Many people have made many mistakes, but the fundamental values ​​remain the same.”

He, club random “I’m not telling people to buy bitcoin,” he told the podcast, even though he still considers bitcoin a good investment.

Mark Mobius, billionaire co-founder of Mobius Capital Partners, recently predicted that Bitcoin will fall from $16,800 today to $10,000 next year. He was right about the drop to $20,000 this year.

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