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Tech billionaire: ‘This is why bitcoin is better than gold’

Tech-miljardair: 'Dit is waarom bitcoin beter is dan goud'

The name Mark Cuban comes up every now and then in the crypto news. The tech billionaire, known from the TV show Shark Tank, is a strong supporter of bitcoin (BTC) and other crypto. In a recent episode of Bill Maher’s “Club Random” podcast, Cuban reiterated why he is such a fan of crypto. He also explains why he finds bitcoin more attractive than gold.

Cuban sees falling bitcoin price as a welcome development

The average investor will not be happy if he or she looks at the bitcoin chart of the past few months. BTC fell sharply this year and has been in a duller phase lately. However, the price cannot drop low enough for Cuban.

He would welcome a further decline with open arms. “I want Bitcoin to drop even more so I can buy more BTC,” said the billionaire. He also gave his input in the discussion of whether bitcoin or gold is a better store of value.

Gold is worthless in disaster scenario, bitcoin is not

That discussion has been going on since bitcoin was born. Both assets are similar as they are scarce and so they can be classified as so-called store of value serve. Which asset is better for that is the big question. At least Cuban thinks that’s bitcoin:

“If everything in the world went to shit and you had a gold bar, do you know what would happen? Someone would beat the hell out of you or kill you and take your gold bar. It’s useless.”

In addition, a transaction with gold today almost always takes place digitally, Cuban argues. Although for those transactions you are dependent on centralized parties, which is not the case with bitcoin.

In short, despite the fierce bear market, Cuban is still a real fan of Bitcoin, Ethereum (ETH) and dogecoin (DOGE).

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