US billionaire entrepreneur and owner of the Dallas Mavericks, Mark Cuban, continues with his controversial approach towards bitcoin. After continuously asserting that he would prefer bananas over BTC as they have more utilization, Cuban said recently that public companies should, in fact, learn from the primary cryptocurrency.|6ccf89c691092f8856013c9715f00b78|
The 62-year old entrepreneur is among the most well-known American billionaires following his participation on the popular reality TV series – Shark Tank. Being a fintech-oriented investor, Cuban frequently receives questions about his stance on bitcoin.
The NBA team that he owns, the Dallas Mavericks, was among the first to introduce BTC as a payment method for merchandise and tickets. However, Cuban said that people have failed to show real interest with little-to-no BTC transactions.
Nevertheless, bitcoin’s skyrocketing popularity in the past few months has caught his attention once more. He introduced special discounts on using BTC to make any purchases with the Mavs.
While that may have been just another marketing trick, his latest tweet on bitcoin seemed significantly more optimistic. Cuban highlighted one of BTC’s most distinguishable benefits – its limited supply while comparing it to public companies issuing new shares of stock.
He believes that if such firms restrict the share inflation, this would appreciate the value of the already existing stocks.
Public companies should learn a lesson from BItcoin and commit to not issue new shares of stock. Ever. Their stock prices would immediately jump.
— Mark Cuban (@mcuban) December 27, 2020
Despite the seemingly pro-BTC opinions from above, Cuban has been dismissive of the asset’s qualities in the past. While indicating that the Mavs have failed to attract any bitcoin payments, he questioned if anyone indeed uses the cryptocurrency as a currency.
He claimed that BTC is still somewhat complicated to use for everyday purchases, and it needs to become “friction-free and understandable” to receive mass adoption.
Cuban has also mentioned a few times that he prefers trading bananas as a commodity than bitcoin. The fruit has an extra incentive for him: “I can still eat that banana before it goes bad and get all of my potassium for my workout.”
Nevertheless, he has also outlined the potentials of BTC succeeding as a store of value, especially following the excessive amount of recently printed fiat currencies.
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