Bitcoin (BTC) has an advantage over gold according to the billionaire entrepreneur Mark Cuban. During a recent interview with Kitco, Mr. Cuban said that gold will continue to be mined in the future but Bitcoin has a limited supply. Mark Cuban is an investor that does not support gold as a store of value and investment asset.
Is Bitcoin Better Than Gold?
Bitcoin has been expanding around the world as one of the most popular and used digital currencies. It is currently accepted in many shops and stores and larger investors are starting to enter the market.
Mar Cuban mentioned in a conversation with Kitco that he hates gold and that he considers Bitcoin to be similar to it. However, he said that the only good thing about Bitcoin compared to gold is that there’s a finite supply that will ever be created.
On the matter, he commented:
“I hate gold. Gold is a religion. There’s some fundamental value to gold, but it’s a collectible. I see gold and Bitcoin as being the same thing. Their value is based off supply and demand. The good news about Bitcoin is there’s a finite supply that will ever be created. And the bad news about gold is they’ll keep on mining gold.”
Cuban has also invested in the cryptocurrency space and in companies that work with blockchain technology and digital assets. Although he considers that Bitcoin could surge above $15,000, he has also warned that Bitcoin could go to zero as well.
He has also defended the banking industry and mentioned that the safest investment is to put the money in the bank to “sleep well at night.” Nonetheless, European and Japanese seem to be in a weak situation.
Cuban has also advised users not to invest in the cryptocurrency market, no matter if Bitcoin or an altcoin, unless they are able to lose these funds. Nevertheless, Cuban invested alongside tennis figure Serena Williams in Mahmee a newly created network for moms.
There were some reports that showed that Bitcoin and gold have been trading in tandem during the last few months. This could be related to Bitcoin being used as a safe-haven in periods of uncertainty and economic tensions. China and the U.S. continue their trade war that is affecting not only China and the region but also the whole financial system around the world.
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