Crypto

Mark Cuban: Crypto ‘Exactly’ Like Dot-Com Bubble — Supposes BTC to Survive Bubble Burst, Flourish Like Amazon

Mark Cuban: Crypto ‘Exactly’ Like Dot-Com Bubble — Supposes BTC to Survive Bubble Burst, Flourish Like Amazon

By& Clark

Billionaire Shark Tank investor Mark Cuban realizes cryptocurrency ‘exactly’ similar to the dot-com bubble. He states BTC & some other cryptocurrencies are similar to those dot-com stocks, like Amazon & eBay that lived the bubble burst & thrived.

Mark Cuban Likens Crypto to Dot-Com Bubble

Shark Tank star Mark Cuban likened what he senses is a bubble in BTC to the dot-com bubble on Mon. afterward the price of the cryptocurrency removed a nosedive. Dallas Mavericks tweeted the owner of the National Basketball Associations:

Viewing the cryptos trade, it is precisely like the internet stock bubble. Accurately. I think BTC, ETH, some others will be similar to those that were built throughout the dot-com era, lived the bubble bursting, & thrived, like eBay, AMZN, & Priceline. Numerous won’t.

‘Along with the method, numerous fortunes will be made & misplaced & we find out who has the stomach to hold & who does not. My guidance? Learn how to hedgerow,’ he expounded.

At the time of writing, his tweet has gathered 895 comments. It has also been retweeted over 1.7K times & liked more than 10.8K times. Numerous people on Twitter view Cuban’s statement as bullish for BTC & ETH.

Among the commenters was Tyler Winklevoss, co-founder of Gemini cryptocurrency exchange, who contended that cryptocurrencies are not like stocks. ‘Wrong. Cryptos like BTC & ETH are networks, they are certainly not stocks or shares of a company. They are like possessing a piece of the initial Internet. Likening them to stocks is an apple to oranges contrast,’ he clarified to Cuban. After deliberating BTC as a store of value, the Shark Tank star repeated his stance:

I held Bitcoin is like gold, it is a store of worth with no other utility. In the slightest, I can eat bananas.

Gold bug Peter Schiff chimed in, significant Cuban: ‘Mark, you cannot store what you do not have. Gold is a store of worth as you are storing gold for future use as a metal. Jewelers will want gold, computer chip manufacturers will require gold, dentists, etc. But no one needs BTC now, so no one will necessity it in the future’

Cuban wrote in a follow-up tweet,

As throughout the dot-com bubble, ‘the experts’ stab to defend whatever the pricing of the day is. Crypto, much like gold, is a source & demand-driven. All the stories about debasement, fiat, etc are just sales pitches. The main sales pitch is scarcity vs demand. That is it.

The Gemini co-founder affected ‘The narratives around debasement of fiat are facts. Have you observed the Fed’s balance sheet lately? What’s the material with supply & demand? The value of land, a Picasso, or the Dallas Mavericks franchise are strongminded by supply & demand too,’ he said, Cuban.

Do you agree with Mark Cuban about BTC? Let us tell in the comments section lower.

Clark

Head of the technology.

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Published at Wed, 13 Jan 2021 06:50:35 +0000