Mark Cuban, the owner of the Dallas Mavericks and known for being a shark tank investor, says Gold investors are ‘dumb.’ He also defended Bitcoin as investors started to get pessimistic about its future due to the prolonged bear market. Considering that Bitcoin has given monumental returns over the last decade while the price movement of Gold has flatlined, Mark does have a point here.
Mark Cuban defends Bitcoin and says Gold investors are ‘dumb’
In a Club Random Podcast, Mark Cuban was talking with Bill Maher, the show’s host. Bill said he was “very anti-Bitcoin,” and believed in Gold’s value. However, Mark Cuban was of the opposite idea. He said that he wants Bitcoin to go down a lot further so that he can buy even more. Mark also said those holding Gold are “dumb as f**k.”
Bill Maher countered Mark’s comment saying that Gold is not going any where. And he is actually right because it has existed for thousands of years now. Maher also said that Gold is a hedge against everything. Mark countered this by saying that Gold is not a hedge against anything, but it is the value that is stored in the precious metal. And the same goes for Bitcoin.
He then continued that people perceive that Gold has value, and so it does, and the same goes for the cryptocurrency Bitcoin. However, most people argue that Gold exists physically, which has a point, but when you invest in Gold, it is not necessarily you getting hold of it physically. And if we assume that you have it, it’s not that difficult for someone to beat the crap out of you and steal it, says Mark.
He has talked about Gold investments in the past as well. He said before that he hates Gold and that it is a religion.
Mark on FTX collapse
The collapse of the crypto exchange has sent spurs around the entire industry. And Mark also has his opinions on the same. Mark said he is not sure of the details, but if he were in SBF’s position, he would have been afraid of going to jail for a long time. He also said that having talked with SBF, he never thought he was doing something like this.
What are your thoughts as Mark Cuban says Gold investors are ‘dumb’? And do you think that Bitcoin will bounce back? Let us know in the comments below. And, if you found our content informative, share it with your family and friends.