Shark Tank billionaire and Dallas Mavericks co-owner, Mark Cuban, revealed that his portfolio consists of “60% Bitcoin, 30% Ethereum and 10% the rest". Bitcoin is only appealing as a store of value rather than a currency, according to Cuban. While Ethereum is the closest thing we have to being a true currency, he said.
In a recent episode on the Delphi Podcast, Mark Cuban said that the growth of DeFi and NFTs has made him hopeful towards Ethereum.
Even though bitcoin is a better alternative to gold, and it’s going to continue to be, Cuban says Ethereum is the closest thing we have to being a true currency.
He sees Ethereum as adaptable over time as developers can work upon and improve its capabilities, saying:
“That is more life-like, and so, I have a lot of Ethereum as well. I wish I had bought it sooner, but I started buying it four years ago, simply because I think it’s the closest we have to a true currency.”
Cuban sees Bitcoin primarily as a store of value, adding:
“With Bitcoin, you could do transfers. And that was great. Right. And it was a store value and that was awesome. It's a better alternative to gold, which is phenomenal. It's taking money away from gold and it's going to continue.”
Cuban is very interested in Ethereum mainly due to the smart contracts that runs on it. With Ethereum’s smart contracts, they are in fact truly decentralized, meaning there's no one in charge, the governance is completely different.
While Cuban didn’t disclose what “the rest” of his 10% of his remaining portfolio was, a portion might be DOGE. In February, Cuban bought a small amount of meme-based cryptocurrency dogecoin, for his 11-year-old son for educational purpose.