Mark Cuban, NBA’s Dallas Mavericks owner and American billionaire investor, is a great supporter of the cryptocurrency market. He is very optimistic and openly promotes cryptocurrency. During an interview with the Delphi podcast, he revealed that he has investments in Bitcoin, Ethereum and other altcoins.
Mark Cuban: The Billionaire Crypto Degen
His portfolio breaks down into 60% Bitcoin, 30% Ethereum and 10% other altcoins.
Also, Cuba is very optimistic about the future of cryptocurrency because today’s technology is better than the early days of the internet.
For that reason, he still keeps some digital coins purchased in the early days for comparison.
Mark Cuban’s Crypto Portfolio Explained
During the interview with Delphi, he stated that Bitcoin created in 2009 stands as the largest cryptocurrency today. With 60% of his crypto investments in Bitcoin, he explained that he views Bitcoin as a store of value and not currency.
Three years after the creation of Bitcoin, people referred to it as a currency. But according to him, it was better a store of value, just like gold. Looking at it from the perspective of value would create algorithmic scarcity, and as a result, its prices will go up.
Cuban further explained that, in his perspective, Bitcoin holds more value than gold, which will happen in the future. And because of this belief, he has never sold his Bitcoin.
Ethereum
By now, you must be realizing how deep into cryptocurrency Mark Cuban is. He still has an interest in Ethereum, and he explains why.
Ether comes second after Bitcoin, and it continues to hold this position because of its smart contracts. Smart contracts in cryptocurrency are tiny codes containing instructions and run on a blockchain.
Cuban admitted that smart contracts changed the game in the crypto market. Because of the smart contracts, decentralized finance (DeFi) and non fungible tokens (NFTs) came to be. This change in the game excited him and is one of the main reasons he is very interested in Ether.
He believes that, just like the internet, Ether is easily adaptable because the developers can work to improve its features and capabilities. He further states that the life-like structure of Ether made him purchase them, but he regrets not having started the purchases earlier.
Cuban started investing in Ether four years ago and stands at 30% of his crypto investment. He considers Ether more close to a currency.
Other than Bitcoin and Ether, Cuban has another 10% investments in crypto, but he did not mention the specific ones. He explained that he has heavily invested in Bitcoin and Ether because he looks at them as equivalent investments.
However, he claimed that, in February 2021, he purchased a small percentage of Dogecoin because he considered it fun and educational. He further explains, sometimes he purchases cryptocurrencies for fun or just for the experience.
Mark Cuban Reveals His Worth of Dogecoin
Recently, Cuban revealed the worth of his dogecoins. This came after a user on Twitter asked him if he owned more of Bitcoin or Dogecoin. In his response, he stated that he owns dogecoins worth $494.