Mark Cuban Is Becoming The King Of Crypto

Cryptocurrency is a digital currency which, unlike cash, keeps records in a decentralized system.  From Dogecoin to Bitcoin, investors and noninvestors are loving the new phenomenon. Many people believe cryptocurrency is the future, including one famous billionaire, Mark Cuban. 

Mark Cuban has been holding onto a few digital coins for the last few years. His portfolio is 60% Bitcoin, 30% Ethereum, and 10% in other holdings. Mark Cuban’s stance on Bitcoin is a debate, as he recently tweeted:

“As during the dot-com bubble ‘the experts’ try to justify whatever the pricing of the day is. Crypto, much like gold, is supply and demand-driven. All the narratives about debasement, fiat, etc., are just sales pitches. The biggest sales pitch is scarcity vs. demand.”

Whether or not Mark Cuban is bullish on Bitcoin, he for sure is interested in Dogecoin and NFT. Dogecoin is a cryptocurrency like Bitcoin but is considered a throwaway for many investors. An NFT is a nonfungible token, meaning it is not supported by cash. 

After Dogecoin rose substantially, Cuban announced that the Dallas Mavericks, his NBA team, will accept Dogecoin as a payment form. They will use the platform Bitpay for NBA fans to buy tickets, merchandise, and other amenities.

Cuban has often referred to Dogecoin as a joke, but he has become relatively serious about its usage. As of March 6th, the Dallas Mavericks had done over 20,000 transactions using Dogecoin, making them at the time the most prominent Dogecoin merchant in the world.

Similarly, Cuban has done extensive work within the NFT sector. He plans to open up an art gallery filled with them. At the same time, he has begun exploring the possibility of allowing Maverick fans to buy tickets using NFT credit. In the meantime, Cuban has started selling digital art of Maverick players and NBA highlights through NFTs. NFT is supported by Ethereum, which Cuban believes has the potential that was seen with the internet.

Mark Cuban is the king of Crypto, and it should be no surprise to anyone. He’s worth billions because he took the risk that very few took. First, he invested in the internet when everyone doubted the success of the industry. Then he used that wealth to bet on up-and-coming entrepreneurs on Shark Tank. Now, he is using his wealth to go for cryptocurrency.