Crypto: Mark Cuban worries about merger and Heckles Metaverse Real Estate

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Crypto: Mark Cuban worries about merger and Heckles Metaverse Real Estate
Mandatory Credit: Photo by Isaac Brekken/Variety/Shutterstock (10519385an)Mark CubanVariety Entertainment Summit at CES, Aria Resort and Casino, Las Vegas, USA - January 08, 2020.

Isaac Brekken/Variety/ / Shutterstock.com

There aren’t too many billionaires in the US (less than 1,000, most likely) and so when one of them shares their thoughts on cryptocurrency, people tend to pay attention.

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So it’s no surprise that famed entrepreneur and Dallas Mavericks owner Mark Cuban (worth $4.7 billionaccording to Forbes) drew tens of thousands of views when he appeared on popular YouTube channel Altcoin Daily earlier this week to talk crypto.

A crypto enthusiast who has described himself in the past as an Ethereum maximalist, Cuban is the type of investor who puts his money where his mouth is for the long term. In a recent Fortune profile, he quoted Warren Buffett as saying, “When the tide goes out, you can see who’s swimming naked.” So wherever crypto goes (and as we know it goes up and down), Cuban is sure to follow.

But, like any savvy investor, Cuban constantly assesses the current market situation and ambitiously speculates on what might happen. While appearing on Altcoin Daily, Cuban shared some deep thoughts on the current state of crypto as he sees it.

Let’s review the highlights of the conversation.

On the Ethereum merger

Ethereum’s planned move from PoW (proof of work) to PoS (proof of stake) this year was a hot topic during Cuba’s interview. Dubbed “The Merge,” the lively transition is expected to make Ethereum less environmentally destructive, as well as faster and more secure.

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Cuban has in the past defended the change, suspecting it will cause Ethereum to skyrocket, but now he is more wary and has expressed concern that the change will cause “buy the rumour, sell the news” hysteria, in which assets skyrocket but don’t. sustain growth (and sometimes collapse) after the momentum has passed.

On real estate in the metaverse

Metaverse real estate sold like crazy last year, but Cuba was definitely not a buyer. He clearly mocked the trend, saying that investments in digital plots are “the dumbest (expletive) ever” because, unlike physical real estate, digital real estate is inherently unlimited and lacks therefore of value.

Cubans’ favorite crypto

Cuban holds Bitcoin, but he prefers small-cap altcoins and invests in KlimaDAO, ApeCoin, Blocto Token, Injective Protocol, and Lithosphere.

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About the Author

Nicole Spector is a writer, editor, and author based in Los Angeles via Brooklyn. Her work has appeared in Vogue, The Atlantic, Vice and The New Yorker. She is a frequent contributor to NBC News and Publishers Weekly. His 2013 debut novel, Fifty Shades of Dorian Gray, received rave reviews from Fred Armisen and Ken Kalfus, and has been published in the US, UK, France and Russia – well let no one know what happened with the Russian edition! She has an affinity for Twitter.

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