Despite the FTX fiasco, the Bitcoin and gold comparison gets more heated and investors such as Mark Cuban are still willing to fund the crypto space.
In his demonstration of supporting Bitcoin, Mark Cuban also made use of a swear word at the expense of gold speculators, stating that if people invest in gold, then they are ‘dumb as f**k’. A guest on the Club Rando podcast (hosted by Bill Maher), the Dallas Mavericks owner shared his views on Bitcoin and gold.
The billionaire believes that the cryptocurrency is a great investment and he hopes that the price continues to drop so he will have the opportunity to buy more. So far, Bitcoin lost more than 60 per cent of its value in 2022. Cuban, when faced with gold-favoring views, stated the expletive mentioned above.
In November 2022, Cuban wrote on Twitter that he continued to invest in cryptocurrency due to his trust in smart contracts which are, according to him, one of the most important underlying capabilities that allow cryptocurrency transactions to happen.
Cuban also noted that gold’s value is stored value and people often don’t physically own gold. Gold’s stored value is similar to Bitcoin. According to an earlier tweet from the billionaire, the value of a token is set by its applicability and how consumers find it useful for those applications.