page contents Mark Cuban: Crypto ‘Exactly’ Like Dot-Com Bubble — Expects Bitcoin to Survive Bubble Burst, Thrive Like Amazon – The News Headline

Mark Cuban: Crypto ‘Exactly’ Like Dot-Com Bubble — Expects Bitcoin to Survive Bubble Burst, Thrive Like Amazon

Billionaire Shark Tank investor Mark Cuban sees cryptocurrency “precisely” just like the dot-com bubble. He says bitcoin and a couple of different cryptocurrencies are analogous to these dot-com shares, like Amazon and Ebay, that survived the bubble burst and thrived.

Mark Cuban Likens Crypto to Dot-Com Bubble

Shark Tank celebrity Mark Cuban when compared what he feels is a bubble in bitcoin to the dot-com bubble on Monday after the cost of the cryptocurrency took a nosedive. The landlord of the Nationwide Basketball Affiliation’s (NBA) Dallas Mavericks tweeted:

Observing the cryptos business, it’s precisely just like the web inventory bubble. Precisely. I feel BTC, ETH, a couple of others shall be analogous to people who have been constructed all the way through the dot-com technology, survived the bubble bursting and thrived, like AMZN, Ebay, and Priceline. Many received’t.

“Alongside the best way, many fortunes shall be made and misplaced and we discover out who has the tummy to hodl and who doesn’t. My recommendation? Discover ways to hedge,” he elaborated.

On the time of writing, his tweet has garnered 895 feedback. It has additionally been retweeted over 1.7K occasions and favored greater than 10.8K occasions. A number of other people on Twitter view Cuban’s remark as bullish for BTC and ETH.

A few of the commenters used to be Tyler Winklevoss, co-founder of Gemini cryptocurrency trade, who argued that cryptocurrencies don’t seem to be like shares. “Flawed. Cryptos like BTC and ETH are networks, they’re without a doubt now not shares or stocks of an organization. They’re like proudly owning a work of the early Web. Evaluating them to shares is an apples to oranges comparability,” he defined to Cuban. After discussing bitcoin as a shop of price, the Shark Tank celebrity reiterated his stance:

I mentioned BTC is like gold, it’s a shop of price with out a different application. A minimum of I will devour bananas.

Gold worm Peter Schiff chimed in, telling Cuban: “Mark, you’ll’t retailer what you don’t have. Gold is a shop of price as you might be storing gold for long term use as a steel. Jewelers will want gold, laptop chip manufactures will want gold, dentists, and so forth. However nobody in truth wishes bitcoin now, so nobody will want it one day.”

In a follow-up tweet, Cuban wrote:

As all the way through the dot-com bubble, ‘the mavens’ attempt to justify regardless of the pricing of the day is. Crypto, just like gold, is a provide and insist pushed. The entire narratives about debasement, fiat, and so forth are simply gross sales pitches. The largest gross sales pitch is shortage vs call for. That’s it.

The Gemini co-founder disagreed. “The narratives round debasement of fiat are info. Have you ever seemed on the Fed’s stability sheet in recent years? What’s the subject with provide and insist? The worth of land, a Picasso, or the Dallas Mavericks franchise are decided by means of provide and insist too,” he informed Cuban.

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