Billionaire entrepreneur and TV personality Mark Cuban eyes to purchase more bitcoin. Mark Cuban has been an advocate for digital currencies for quite some time, recently noting that he even prefers to invest into bitcoin rather than gold.

In an interview with Bill Maher on the “Club Random” podcast, Cuban said that both gold and bitcoin represent a store of value, which implies that they are appreciative assets which grow in value over time. Yet, the billionaire believes that the key difference between the two is that gold’s value is derived from its scarcity and historical significance, while bitcoin’s value propels as its use cases remain on the rise.

Losing over 60% of its value in 2022, bitcoin’s price currently sits at a little under $17,000 which is a price-tag unwitnessed since the winter of 2020. On the contrary, the price of gold remained relatively resilient despite the headwinds and instability of the year, losing just around 1% of its value in 2022.

Sources:

https://www.cnbc.com/2022/12/28/mark-cuban-wants-to-buy-more-bitcoin-says-gold-investors-are-dumb.html 

https://www.entrepreneur.com/business-news/mark-cuban-slams-gold-investments-praises-bitcoin/442009 

https://decrypt.co/117986/mark-cuban-doubles-down-on-bitcoin-while-dissing-gold