TV personality and investor Mark Cuban believes Ethereum could be a better store of value than Bitcoin.
Shark Tank: Ethereum vs. Bitcoin
In a recent podcast with the DeFi blog “The Defiant”, billionaire and investor Mark Cuban explains that Ethereum (For instructions on how to buy Ethereum ) could be the future of store of value. Cuban, famous for his appearance on the television series „Shark Tank“, believes that ETH could even outperform Bitcoin (BTC) in this area.
Cuban’s comments surprise few who know him. He has questioned BTC in the past, calling its price hikes bubble-like. In addition, the sports billionaire also made his enthusiasm for smart contracts clear in the podcast.
In general, however, Cuban is a fan of cryptocurrencies. He instructed his basketball team, the Dallas Mavericks, to accept payments in cryptocurrency.
In addition, in a recent ask-me-anything (AMA) on Reddit, Cuban revealed its cryptocurrency holdings, which include the Aave (AAVE) decentralized finance project.
The celebrity effect
Cuban isn’t the only celebrity or billionaire interested in the cryptocurrency and blockchain space. As already reported in detail, Tesla CEO Elon Musk is a big crypto fan.
The eccentric billionaire and owner of SpaceX tweets about the eternal meme cryptocurrency, Dogecoin (DOGE). Last year when Musk tweeted „One Word: Doge,“ the cryptocurrency jumped over 1000%.
Indeed, the billionaire’s continual tweeting about cryptocurrencies led to a study looking at the impact of those tweets on crypto prices.
Unsurprisingly, the study found a significant „abnormal effect“ of Musk on both DOGE and BTC.
Musk’s popularization of cryptocurrencies on Twitter even led a number of other celebrities, including Snoop Dogg, to endorse DOGE, thereby confirming his mainstream meme status.
A new class
Although celebrities may see the cryptocurrency space as a vehicle for entertainment, a new class of companies that own cryptocurrencies are seriously investing in the space.
For example MicroStrategy. The business analytics firm made headlines in December for its offer to raise $ 600 million, all for BTC.
Recently the company bought the top cryptocurrency worth $ 10 million. Additionally, Musk recently revealed in a filing that it bought out $ 1.5 billion in BTC in January.
Celebrities tend to follow popular culture and vice versa. When Cuban, Musk and Snoop Dogg show interest in the industry, investment advice aside, they reflect the public interest.