Billionaire Mark Cuban weighs what he believes to be the true value and function of every industry in the cryptocurrency space, and shares two altcoin projects in which he takes huge positions.
“That’s why I got a ton of these altcoin projects”
In a recent interview with him, Mark Cuban said that Bitcoin will always function as a store of value, but consider BTC first and foremost a digital asset.
Bitcoin maxi are people who think that only Bitcoin will own the world and change the world as the ultimate currency. It is not, but Bitcoin is indeed a great store of value.
The Shark Tank investor then discusses the two main altcoin categories and how more speculative tokens compare to over-the-counter (OTC) stocks, saying:
The two types There are tokens. There are tokens that have a utility, and there are tokens called ‘shitcoins’ that are just there to be traded. They only offer speculation opportunities, like OTC stocks. In this respect, some tokens are equivalent to stocks.
Mark Cuban continues by explaining why altcoin projects that are his main interest as a crypto investor have accumulated huge positions in Ethereum (ETH) and Polygon (MATIC):
Finally, utility like Ethereum There are tokens. They have these things called smart contracts and they let you trade different things. Be it NFTs, insurance contracts on Ethereum, there are a lot of different things. That’s where I think the real plus is. That’s why I own a ton of ETH and MATIC. Because smart contracts are like HTML or Javascript for the internet.
What does the famous billionaire think about stablecoins?
Earlier this week, internet detectives uncovered the contents of the Ethereum wallet, as we covered in the news of Kriptokoin.com. In addition to holding plenty of ETH and various other altcoin projects, the billionaire also owns a substantial amount of Circle’s USDC stablecoins. The famous billionaire has the following to say about the function of stablecoins:
Stablecoins are like the currency of the crypto world. There are two types of stablecoins. One is pegged to the dollar and the most common type is USDC. For every USDC dollar that has a token in someone’s crypto wallet, there is a corresponding real US dollar in a bank account in their treasury. So this is relatively safe. The second type is algorithmic stablecoins. These are more risky. That’s why I think it will be edited. I don’t think this is a bad thing.
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