THELOGICALINDIAN - Billionaire Shark Tank broker Mark Cuban sees cryptocurrency absolutely like the dotcom balloon He says bitcoin and a few added cryptocurrencies are akin to those dotcom stocks like Amazon and Ebay that survived the balloon access and thrived
Mark Cuban Likens Crypto to Dot-Com Bubble
Shark Tank brilliant Mark Cuban compared what he feels is a balloon in bitcoin to the dot-com balloon on Monday afterwards the amount of the cryptocurrency took a nosedive. The buyer of the National Basketball Association’s (NBA) Dallas Mavericks tweeted:
“Along the way, abounding fortunes will be fabricated and absent and we acquisition out who has the abdomen to hodl and who doesn’t. My advice? Learn how to hedge,” he elaborated.
At the time of writing, his cheep has garnered 895 comments. It has additionally been retweeted over 1.7K times and admired added than 10.8K times. Several bodies on Twitter appearance Cuban’s animadversion as bullish for BTC and ETH.
Among the commenters was Tyler Winklevoss, co-founder of Gemini cryptocurrency exchange, who argued that cryptocurrencies are not like stocks. “Wrong. Cryptos like BTC and ETH are networks, they are absolutely not stocks or shares of a company. They are like owning a allotment of the aboriginal Internet. Comparing them to stocks is an apples to oranges comparison,” he explained to Cuban. After discussing bitcoin as a abundance of value, the Shark Tank brilliant common his stance:
Gold bug Peter Schiff chimed in, cogent Cuban: “Mark, you can’t abundance what you don’t have. Gold is a abundance of amount as you are autumn gold for approaching use as a metal. Jewelers will charge gold, computer dent articles will charge gold, dentists, etc. But no one absolutely needs bitcoin now, so no one will charge it in the future.”
In a aftereffect tweet, Cuban wrote:
The Gemini co-founder disagreed. “The narratives about corruption of authorization are facts. Have you looked at the Fed’s antithesis area lately? What’s the amount with accumulation and demand? The amount of land, a Picasso, or the Dallas Mavericks authorization are bent by accumulation and appeal too,” he told Cuban.
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