Shark Tank star and Dallas Mavericks minority owner Mark Cuban prefers Bitcoin (BTC) as an investment over gold.
In a new CNBC interview, the business magnate says that from an investment perspective, he views the crypto king as a better option and that he’s choosing BTC over gold “all day, every day.”
On what he expects for Bitcoin’s price going forward, Cuban says,
“Bitcoin is just driven by supply and demand. There’s only going to be 21 million of them. The more people that buy and the fewer people that sell, that means the price is going to go up.
That’s just the nature of it. It’s a great store of value, that’s why I have an investment in it, you know, because I do feel that the demand is going to exceed the number of people selling.”
Bitcoin is trading at $66,668 at time of writing.
According to the billionaire, the digital asset industry’s biggest disappointment is the lack of mass adoption of decentralized applications (DApps).
“There’s not that one application where you go to your grandma and she says, ‘I got to get this new crypto app because all my friends are using it’.
Kind of like we saw in the early days of apps with Instagram. We need that transitional application for crypto to be ubiquitous but until then, just from an investment perspective, I’m investing in Bitcoin over gold all day every day and I’ve said that for years.”
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