Billionaire Mark Cuban has announced that he has focused 60% of his cryptocurrency portfolio in bitcoin, 30% in ether, and 10% in other digital assets.
Explaining the reasons for this distribution during the release of The Delphi Podcast, Cuban said that the recent success of decentralized finance (DeFi) and non-interchangeable tokens (NFT) made him believe in the prospects of the cryptocurrency space. According to Cuban, it is ether, not bitcoin, that is more consistent with his ideas about the correct form of money. This is facilitated by the presence of a decentralized economy based on smart contracts in Ethereum.
Cuban compares the development of Ethereum to the rise of the Internet space in the late 90s. "When the Internet began to enter our lives, all sorts of applications began to appear that could change the course of things as we knew it in the analog world. For example, this is how streaming appeared. If I wanted to hear about basketball from Indiana University before, I couldn't do it on the radio in Dallas," he said.
With bitcoin, Cuban does not build such parallels, since he sees it primarily as a means of accumulation and an alternative to gold. "It was possible to make transfers with bitcoin. And that in itself was great. It was a store of value, and that's great. It's the best alternative to gold, and it's phenomenal. He takes money out of gold and will continue to do so. That's why I keep bitcoin, but it can't be compared to the Internet, " the billionaire added.
In September 2019, Cuban said that he would rather buy bananas than bitcoin, explaining that at least they can be eaten, but has changed his position since that time. In January, he announced that he had continued to hold cryptocurrency since the early days of the Coinbase exchange and "never sold anything."
The remaining 10% of the Cuban portfolio may include Dogecoin. Recently, the NBA club "Dallas Mavericks", which belongs to him, began to accept cryptocurrency to pay for tickets, and Cuban himself admitted that DOGE is able to rise to $1.