Mark Cuban Owns 30% ETH Because It’s ‘Closest to a true currency’

The billionaire investor Mark Cuban has recently stated that Bitcoin is a much better alternative to gold, and compared Ethereum's smart contracts to the internet uprising era of the late 1990s. He believes that Ethereum is the closest thing we have to designate as a true currency.

Mark Cuban Owns 30% ETH Because It’s ‘Closest to a true currency’

The Shark Tank and Dallas Mavericks co-owner made comments on a recent episode of the Delphi Podcast, where he admitted that the recent growth of Defi and the popularity of NFTs has excited him about crypto space. Cuban explained that “smart contracts and the fact that they're decentralized" means "there's no one in charge right there, the governance is completely different. That's what changed the game.”

Cuban compared the growth of the Ethereum network to the internet boom in the late ’90s and early 2000s era:

“When the Internet started to happen, you started seeing all these applications that could disrupt things that happened in the analog world, like when we looked at streaming because I wanted to listen to Indiana University basketball, I couldn't do it on the radio in Dallas.”

Despite Cuban being bullish on Ethereum, he disclosed his portfolio has double the amount of Bitcoin to Ethereum with “60 percent Bitcoin, 30 percent Ethereum and 10 percent the rest.”

The billionaire once said  “I’d rather have bananas” than BTC in September 2019, and has now completely changed his view since then. 

However, he may have been more involved than those comments suggest, after his tweet in early January this year that: “I still have crypto from the early days of Coinbase. I’ve never sold anything.”

While Cuban didn’t disclose what “the rest” of his portfolio was, there are chances that a portion might be Doge after he forecast a scenario where DOGE hit $1.