Billionaire Mark Cuban atomizes Bitcoin: „More a religion than a solution“
Resistant to the Bitcoin Revolution – We are starting to get used to declarations of love for Bitcoin (BTC) from billionaires and big fund managers. However, some still continue to cling to their disgust for the king of cryptos: Mark Cuban is one of them and does not hold back for a second from saying it.
Bitcoin, too perfect to find favor in the eyes of Mark Cuban?
Although Mark Cuban was forced to pay the Securities and Exchange Commission (SEC) $ 6.1 million in fines for his late crypto-project Unikrn, this doesn’t seem to have taught him to be humble towards protocols that manage to survive, like Bitcoin.
In an interview with Forbes newspaper , the billionaire owner of the Dallas Mavericks explains that his negative beliefs about Bitcoin have still not changed :
“ [Bitcoin] is a store of value like gold, but which is more of a religion than a solution to a problem (…) That said, unlike gold, due to the limited number of BTC that will be available and the HODLing philosophy, when demand exceeds supply, the price will increase (…) ”
Mark Cuban, almost visionary
The „negatives“ that will leave more wary of an observer. Granting safe haven status to Bitcoin, and saying that its value is bound to increase thanks to its limited quantity (to 21 million units and not one more): are these really things to blame?
Is accumulating BTC not a protection against crises?
Mark Cuban continues his strange analysis, but it is clear that even by following it to the end, we cannot understand the exact reproach which is made to Bitcoin:
“No matter how much BTC fans want to pretend it’s disaster scenario protection, it isn’t. Countries will take steps to protect their currencies and their ability to tax, so the more people believe it is something other than a store of value, the more they run the risk of government intervention ”
In short, Bitcoin would be so much better than fiat currencies, that governments should trample on the principle of free competition of currencies, and impose their trust currency, in which we have less and less confidence ?