He sees bubbles everywhere – Mark Cuban continues to denigrate cryptomonanias over and over again, while calling those who dare to invest in them „fools“. For this grumpy billionaire, the cryptosphere is a worse bubble than the Internet at the dawn of the 2000s. Will Bitcoin still find favor in his eyes?
Bitcoin and Ethereum: the only survivors in the rubble?
Billionaire Mark Cuban has gotten us used to his scathing criticism of Bitcoin (BTC), calling crypto investors almost fanatic believers .
It will come as no surprise, then, that he compares the current crypto bull market to a doomed bubble , like that of tech companies during the democratization of the Internet.
“Looking at crypto trading, I see it EXACTLY like the stock bubble of internet companies. EXACTLY. I think Bitcoin, Ethereum (ETH), and a few others will be like the few companies that survived the bursting of the internet dot-com bubble, and did succeed, like Amazon, eBay, and Priceline. . Many will not survive. “
It should be noted that it is already very charitable on the part of Mark Cuban to at least admit that Bitcoin and Ethereum would survive a new speculative bubble if it were to take place, but we should not ask him for more.
The phony cryptosphere’s “selling points”?
For Mark Cuban, it’s all about the supply and demand for Bitcoin and cryptos. For him, talking about Bitcoin as a solution to the devaluation of fiat currencies by inflation would only be a simple „selling point“ . Just like the scarcity of bitcoins elsewhere!
In another tweet posted a few minutes later, he explains that investors who take risks by investing in crypto-assets are „fools“ and have a „99% chance of losing everything . “
Where he is not entirely wrong in this second intervention is that the billionaire speaks in particular of those who contract debts to invest in crypto, with money that the latter can not therefore afford to lose . On this last point, we will fully agree with Mark Cuban: you should only invest in cryptos money that you can afford to lose and that you do not need !