Billionaire Mark Cuban Still Believes in Crypto Despite Price Crash, Compares to Early Days of Internet - Cryptonews

Mark Cuban. Source: a video screenshot, Youtube, The Filmy

Despite the ongoing crypto marketplace downturn which was further intensified by crypto speech FTX’s collapse, galore seasoned investors show their steadfast content successful crypto, with the Dallas Mavericks proprietor Mark Cuban declaring helium is convinced the technology’s inferior related to astute contracts could safeguard its future.

“A basal question. Why person I invested successful crypto? Because I judge Smart Contracts volition person a important interaction successful creating invaluable applications. I person said from time 1, the worth of a token is derived from the applications that tally connected its level and the inferior they create,” the American billionaire tweeted.

The entrepreneur has agelong praised ethereum (ETH) arsenic the crypto that is superior to bitcoin (BTC) and “the closest we person to a existent currency”. This is because, arsenic a store of value, ETH has “a batch much built-in inferior successful its integrated and autochthonal form” and and “the applications leveraging astute contracts and extensions connected ethereum volition dwarf bitcoin,” helium said. Cuban is besides a dogecoin (DOGE) enthusiast, and past year, helium revealed that helium owned a tiny magnitude of the token.  

In April 2021, the businessman stated that immoderate 60% of his crypto portfolio was successful bitcoin, astir 30% successful ETH, and the remaining 10% stored successful other, unspecified integer assets.

At the aforesaid time, successful his caller tweets, the U.S. billionaire admits that what has not been created to day is an exertion for cryptocurrencies that would beryllium “ubiquitous”.

“One that is evidently needed by everyone and they are consenting to spell done the learning curve to use. Maybe it ne'er comes. I anticipation and deliberation it will,” according to Cuban.

To exemplify his statement with an example, the entrepreneur compares the blockchain exertion to streaming successful the aboriginal days of the internet.

“The champion analogy I tin usage is the aboriginal days of streaming.  The crap radical had to bash to perceive to a 16k watercourse of euphony was insane,” according to the businessman. 

“An net subscription for your dial up modem.  Download the supplier client. Download a tcp/ip client.  Download the streaming client. Click connected a batch record connected a website. Make definite it each worked together. All portion being laughed astatine for conscionable not turning connected your vigor oregon tv. But for successful bureau oregon retired of marketplace it was worthy it. It started arsenic niche successful 1995. Now recognize that Smart Contracts are astir 5 years old,” helium concludes.