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Mark Cuban: Bitcoin Is a Good Investment, Gold Investors Are Dumb

Shark Tank star Mark Cuban, the billionaire owner and founder of the NBA Dallas Mavericks team, spoke out about bitcoin and gold on an episode of Club Random, hosted by Bill Maher. It is scheduled to air Monday.

Maher stated that he believes in the intrinsic value of gold and is “very anti-bitcoin”. The Dallas Mavericks owner commented on gold investing.

If you don’t have gold, you are dumb as f ***.

The podcast host continued to argue that gold is “never going away” and is “like a hedge against all else.” Cuban replied:

It’s not, but it is a hedge against any kind of risk. It is the stored value, and you don’t have physical gold. … Bitcoin is also a stored value, just like gold.

“When you have gold, all that you have is a digital transaction.” Cuban explained that you don’t actually own the gold bar. If everything went to hell and you had a golden bar, what would you do? Shark Tank’s star warned that someone would either beat you to death or take your gold bars.

Maher acknowledged Cuban’s criticisms of gold and clarified that ‘We are not mostly in gold. Cuban replied, ‘And that is fine. You don’t think I’m primarily in bitcoin? It’s something I have. Dallas Mavericks owner, John McLaughlin, stated that it was a digital transaction. It’s also a store of value. People perceive that bitcoin has a greater value than gold.

Cuban stated that bitcoin is a “good investment”, but he cautioned that he’s not telling people to purchase the cryptocurrency. Shark Tank’s star also added:

I want bitcoin to fall a lot more so that I can buy more.

Cuban believes cryptocurrency has potential despite crypto winter and the collapse crypto exchange FTX. He explained previously that the FTX collapse is not a failure of crypto. Although he admitted that he doesn’t know everything, he stated that former FTX CEO Sam Bankman Fried (SBF), should be concerned about being in jail for a long time.

Kevin O’Leary (aka Mr. Wonderful insists that SBF is a top crypto trader and will support him again if he launches another venture. O’Leary was a spokesperson of FTX during the bankruptcy filings.