Famous Billionaire: Cryptocurrencies Will Be Permanent!

one of the richest people in the world Mark CubanRecently, he gave an interview on Forbes magazine’s Youtube channel.

The famous billionaire, in his interview, the general situation around the world, wealth, his own life story and future of cryptocurrencies talked about.

Cuban likened the current state of cryptocurrencies to the adoption of the internet that began in the 1990s. In the 90’s, the internet was an information tool that only a certain group had access to. Mainstream consumers were not very interested in the internet.

Mark Cuban stated that it took nearly 20 years for the internet to be adopted by the mainstream. According to Cuban, a similar scenario is taking place in the adoption of cryptocurrencies.

“Cryptocurrencies and internet adoption trends are very similar. Bitcoin has been in our lives for 12 years. However, smart contracts emerged in 2017. So we can say that cryptocurrencies are only 5 years old. I think we are in an “early challenge” stage for cryptocurrencies.”

The billionaire is quite hopeful for the future of cryptocurrencies. Especially DeFi technologies are of interest to Cuban. However, cryptocurrencies are still not accepted by the mainstream society.

Finally, Mark Cuban stated that he wants to invest in projects that can bring the crypto industry into the mainstream.

Can Cryptocurrencies Experience the Same Scenario as the Dot-com Bubble?

The vast majority of people were unaware of the Internet that emerged in the 1990s. However, towards the end of the 90s, the internet became mainstream in the world. Web technology has spread to all segments of society, many technology companies have been established.

Technology stocks showed an incredible rise with the excessive popularity of the internet in the eyes of the public.

From 1995 to 2000, the stocks of companies that invested in the internet field were appreciated 4-5 times on average. This rise was a bubble and did not last. The bubble burst in 2000. Some stocks have lost as much as 95%, Nasdaq collapsed.

This chain of events went down in financial market history as the Dot-com bubble.

However, when we look at today, the stocks of technology companies are trading at much higher levels than even the peak of that day. Because internet technology has become permanent.

Some of the crypto investors; Based on the dot-com bubble, he makes long-term investments in line with the expectation of a decline first and then an incredible rise in the long term.

Do you think cryptocurrencies will experience the same scenario as the Dot-com bubble? Is a BTC worth 2-3 million dollars in 10 years?