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Mark Cuban is a strong supporter of Bitcoin and questions investing in gold. He said that people who invest in gold are “dumb as f***.”
Mark Cuban joined the Club Random podcast, where host Bill Maher said he was “very anti-Bitcoin” and believed in the value of gold, according to yahoo!finance. Cuban replied, “I want Bitcoin to go down a lot further so I can buy some more.” He added, “If you have gold, you're dumb as f***.”
Maher replied that gold “never goes away” and is “like a hedge against everything else,” to which Cuban replied:
“No, but it's not a hedge against anything, right? What it is is the stored value and you don't own the physical gold, do you…Gold is a stored value and so is Bitcoin.
“It’s a digital transaction and it's a stored value...So, people perceive that there is value associated with gold, that there's value associated with Bitcoin.”
He noted that investing in gold usually does not mean that you own real gold. “You don't own the gold bar, and if everything went to hell in a hand basket and you had a gold bar, you know what would happen? Someone would beat the f*** out of you or kill you and take your gold bar.”
Despite the collapse of FTX, Cuban said he still believes in the potential of the cryptocurrency. “Separate the signal from the noise,” he suggested. “There’s been a lot of people making a lot of mistakes, but it doesn’t change the underlying value.” He added on the Club Random podcast that he is “not telling people to buy Bitcoin,” even though he still considers it a good investment.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.