What’s Better Than Bitcoin? Mark Cuban Gives Three Reasons Ethereum ‘Dwarfs’ It.
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Billionaire Mark Cuban is no stranger to bold cryptocurrency calls. The Dallas Mavericks-owning Shark called Bitcoin a “bubble” and “hail mary” back in 2017, but has completely flipped over time, labeling Bitcoin “a better alternative to gold” earlier this year.
Just last month, Cuban made his most emphatic Bitcoin prediction yet, saying “it’s not inconceivable that the number of people that own [bitcoin] could more than double.”
So we know he loves Bitcoin, but what is Cuban’s cryptocurrency of choice?
Cuban’s Crypto Choice
While Cuban’s crypto portfolio includes Bitcoin, Ethereum, and more altcoins (including Dogecoin!), he’s been making a strong case for Ethereum lately.
Last week he gave CNBC’s Make It three reasons to love Ethereum:
First, the Ethereum blockchain consistently processes more transactions per second than bitcoin’s, making payments faster and more productive.
Second, it can support the creation of applications. Ethereum is known for its smart contracts, which power and build decentralized applications, like DeFi (or decentralized finance) apps, and NFTs (nonfungible tokens).
“Right now, bitcoin is a more established store of value and there is no reason to think it won’t continue to be for a long time,” Cuban says. “Ethereum, on the other hand, is booming with development that I think will create so many new applications.”
Third, Cuban says that as an upgrade to the Ethereum blockchain called Ethereum 2.0, which launched in 2020, continues to roll out, “the impact of Ethereum could be greater than we currently imagine.”
Cuban’s Crypto Twitter Thread
Mark Cuban isn’t relying on just interviews to spread his crypto gospel and opinions. He’s taking control of his messaging with social media.
Last week, Cuban published a Twitter thread laying out the case for crypto, specifically Bitcoin, Ethereum, and even Dogecoin.
Eth Smart Contracts are better, cheaper, faster at authenticating/buying/selling/delivering digital items than alternatives available. This makes it a viable currency and trading mechanism for all things digital. That's powerful and will grow as applications are added
— Mark Cuban (@mcuban) May 2, 2021
“Ask PPP applicants how much they trust their big banks? Do you trust your health insurer?” Cuban asks at one point during the thread, contrasting blockchain assets from institutional norms. “Crypto is trustless and a better way to handle many transactions.”
“So when someone says they don’t get why crypto assets have value, show them this.”