Mark Cuban allocates wealth in crypto assets

Multi-billionaire investor Mark Cuban recently had an interview on Delphi Podcast and stated that he has allocated some of his wealth in crypto assets.

In recent years, Cuban and some of his co-hosts on ABC American business reality television series Shark Tank have been in talks about whether they’ll proceed to invest in cryptocurrency. In February, he told stock traders in his Ask Me Anything (AMA) session on Reddit his opinion of Bitcoin holders, stating that the latter is a perfect guide to follow. The following month, he told the CEO of Euro Pacific Capital Peter Schiff, that Bitcoin is better than gold.

This week, Mark Cuban discloses to the public his allocation in the cryptocurrency portfolio. He stated that 60% of these assets are Bitcoin and 30% are Ethereum while the remaining 10% are other digital assets with a smaller cap. Cuban believes that Bitcoin, in time, will be the best alternative for gold.

‘[Bitcoin] a better alternative to gold, and it’s going to continue to be. That’s why I own Bitcoin and why I never sold it,’ Cuban stated.

Aside from Bitcoin, Cuban believes that Ethereum is an asset that is the closest thing to being a currency.

‘Smart contracts came along and that created DeFi and NFTs. That’s what changed the game. That’s what got me excited. That’s why it’s a lot like the internet,’ Cuban stated.

Ethereum has smart contacts which are types of accounts that can send transactions over the network. It also has Decentralized Finance (DeFi) which is a collection of financial products and services. In DeFi, users have access to almost anything on the market and no authorities can block the transactions.

Lastly, Ethereum has non-fungible tokens also known as NFTs. These tokens are used as a representation of ownership when a person has a unique item. NFTs secure the user’s valuable belongings because no one can modify the ownership once it is named after them.

Moreover, Cuban believes that ETH will grow further because of all the developments occurring on the chain. He stated that this asset is more adaptable over time. In regards to the remaining 10% of his coins, he hasn’t disclosed yet what those assets are and is still testing the waters to gain experience in the market.

Read more cryptocurrency updates and news when you visit BTC Post!