‘No Chance’ For Bitcoin as a Reliable Currency, Says NBA’s Mavericks Owner, Cuban
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‘No Chance’ For Bitcoin as a Reliable Currency, Says NBA’s Mavericks Owner, Cuban

December 11, 2019      Ibiam Wayas

The owner of the National Basketball Association’s (NBA) Dallas Mavericks, Mark Cuban, doesn’t think bitcoin can become a reliable currency. 

In response to a question on whether their is any scenario where bitcoin could become a trustworthy currency; the American businessman, Cuban, said their’s ‘no chance’ for such.

He made the statement in an email, giving reasons that; bitcoin is “too difficult to use, too easy to hack, way too easy to lose, too hard to understand, too hard to assess value.”

Cuban argued that bitcoin is a collectible. “If you consider art or gold a viable, stable financial asset, than yes. It can be.” Forbes reported the development on December 10.

The statement is probably the second time he criticizes bitcoin. According to the report, Cuban related bitcoin in September to speculative items such as gold, and basketball cards.

He claimed that bitcoin has less utility and that he prefers a banana to the cryptocurrency, due to the fact that the fruit is edible. However, Cuban’s stance on bitcoin, in particular, does seem to have no affect on the area of business.

Cuban’s Stance on Bitcoin Not Involved in Business

In August, Cuban’s Mavericks announced they debuted bitcoin payment method for the fans to get tickets and other merchandise. The service was provided by BitPay, ranking Mavericks the second team to allow bitcoin payment in NBA.

The team had to cease the service due to no use at that time. However, “wee decided to offer it again because the gateways became simpler, and if we have a customer that wants to buy with it, I’ll take bitcoin or bananas.” Cuban added.

Meanwhile, its important to note that the American businessman is not the only one who has such a stance on Bitcoin. In fact, he is among the list of other notable businessmen and politicians like President Donald Trump to criticize bitcoin.

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Ibiam Wayas
Ibiam Wayas

Ibiam Wayas is an optimistic crypto news reporter who also enjoys tech writing. He is an introvert who spends much of his time on the internet studying facts that will help him excel in the digital/cryptocurrency space.