Make at least 50.000$ monthly trading crypto Follow professional Trading signals for FREE. I'm going in!

Mark Cuban wants to buy more Bitcoin and thinks gold investors are dumb

3 min reading

Start making MONEY trading crypto! Follow professional Trading signals for FREE >>> JOIN

Billionaire Mark Cuban is increasing his investments in Bitcoin and says he prefers it over gold as an investment option.

Powered by Froala Editor

During a Dec. 26 episode of Bill Maher's "Club Random" podcast, the long-time cryptocurrency advocate raised hopes that the price of bitcoin would drop further so that he could buy more.

In 2022, Bitcoin lost more than 60% of its value, and as of December 27, values were hovering around $17,000, a significant decline from the highs reached in 2021.

According to financial experts, buying gold is a great way for people to secure the value of their investment portfolio from decreasing due to inflation.

He said, "If everything went to hell in a handbasket and you had a gold bar, you know what would happen? Someone would beat the f—- out of you or kill you and take your gold bar."

Cuban stated that both gold and bitcoin are a "store of value," which means that he thinks both assets will retain their value instead of depreciating.

However, there is a notable change in how gold and bitcoin accrue value. The value of gold is derived from its scarcity and long history of being traded for goods and services. However, compared to other payment methods, cryptocurrencies like bitcoin are a more recent creation.

The majority of digital coins are not valued by an underlying entity. It renders them subject to unpredictable price changes.

Gold has only decreased by slightly more than 1% year to date as of December 27, whereas Bitcoin prices are currently going far below their January prices.

Goldman Sachs predicted that gold would outpace bitcoin over the long term in its latest research report.

Bitcoin was described as "a solution looking for a problem" by the multibillion-dollar global investment bank, and it is expected that it will remain an extremely volatile asset until further applications for it become evident.

To that extent, investors seem to be less interested in crypto investing than Cuban.

ALSO READ- El Salvador approves major crypto bill opening door for Bitcoin-backed bonds

Currency Exchange rate Buy cryptocurrency

TradingSignals News
Start making MONEY trading crypto! Follow professional Trading signals for FREE >>> JOIN

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the ( Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is c/o Fintech Labs Global Solutions, Unit 303, Ile Du Port, Mahe, Seychelles

The full document to read the TradingSignals privacy policy is available in this document.

Advanced settings can be changed in your browser.