Mark Cuban is best known as the billionaire owner of the Dallas Mavericks, a staple on Shark Tank, and – in some circles – an occasional commentator on bitcoin.
“Watching the cryptos trade, it’s EXACTLY like the internet stock bubble. EXACTLY,” Cuban tweeted in January, on the heels of BTC’s jump above $40k. Many saw the thread as bearish on bitcoin, or even bitcoin-hostile.
“As during the dot-com bubble ‘the experts’ try to justify whatever the pricing of the day is. Crypto, much like gold, is a supply and demand driven. All the narratives about debasement, fiat, etc are just sales pitches. The biggest sales pitch is scarcity vs demand.”
Renowned bitcoin skeptic (and goldbug) Peter Schiff poured gasoline on the fire, replying, “The difference is that some of those early internet stocks actually had real value. So they survived and ultimately thrived. None of the cryptos have any real value so there will be no winners. They will all lose.”
Mark Cuban’s actual take on bitcoin? It can be tough to pinpoint and for many, Cuban’s take matters. It has weight. When people like Cuban give BTC an endorsement or a swipe, this adds or subtracts legitimacy in the eyes of the. non-crypto-twitter crowd.
And that’s why Cuban’s Wednesday tweet, in the midst of GameStop mania, raised eyebrows.
Whatever the billionaire’s misgivings about the bitcoin market, he’s all-in on NFTs and other blockchain-based ideas for his Dallas Mavericks. “You can sell anything digital using NFT,” he tells CoinDesk, hinting at plans to sell an array of digital goods soon.
We know that Cuban has bought bitcoin and still owns bitcoin, but we also know that he once said, “I’d rather have bananas than bitcoin,” as he “could eat bananas – bitcoin, not so much.”
Then again, his take is more nuanced. Even in his ranty “EXACTLY like the internet stock bubble” thread, he took the time to reply to Schiff, offering a quasi-defense of crypto: “What value does…