Mark Cuban, billionaire investor and owner of the Dallas Mavericks basketball team, is considering buying more Bitcoin (BTC). However, he has one condition: the price of BTC must drop. In an interview with Bill Maher for his podcast Club Random with Bill Maher, Cuban expressed his support for Bitcoin and said that he wants to buy more of it because he knows that the cryptocurrency will bounce back. At the time of writing, Bitcoin is trading at a price of $18,939.
Cuban believes that Bitcoin has more value than gold and is a better investment than the precious metal. He considers both Bitcoin and gold to be stores of value, but thinks that those who invest in gold are lucky because if they owned a gold bar, it would likely be stolen due to the lengths that people are willing to go to in order to obtain it.
Cuban has frequently spoken out in favor of cryptocurrencies in the media, including defending the cryptocurrency sector in the aftermath of the FTX collapse. He has blamed traditional banking system failures, such as bad loans, flawed appraisals, and the subprime mortgage crisis, for the problems in the cryptocurrency sector.
In a tweet, Cuban stated that the issues faced by FTX are not much different from those experienced by the traditional financial sector in the past. He believes that the cryptocurrency industry will eventually mature and become more stable, similar to how the traditional financial sector has evolved over time.
Despite his belief in the potential of Bitcoin and the cryptocurrency industry, Cuban has cautioned against investing more money than one can afford to lose. He advises those interested in investing in Bitcoin to only do so with money that they are comfortable losing.