Billionaire investors Mark Cuban and Tim Draper shared cryptocurrencies that they will continue to buy despite all the losses of the bear market.
Mark Cuban wants to buy more cryptocurrencies
The owner of NBA team Dallas Maverciks and crypto friend Mark Cuban is looking to buy more Bitcoin even though it has dropped 75% from its peak price. “I want Bitcoin to drop more so I can buy more coins,” Cuban said in a recent podcast interview with talk show host Bill Maher.
Bitcoin, which saw the ATH level with $ 69,000 in November 2021, is currently trading around $ 18,200. Leading crypto gained momentum after positive CPI data in the new year. cryptocoin.com We have included the details in this article.
Meanwhile, host Maher said during the interview that he sees gold “as a means of protection against everything else” and described himself as “anti-Bitcoin”. In response, Cuban sarcastically replied, “If you have gold, you’re stupid.” He later acknowledged that both Bitcoin and gold have useful properties as stores of value.
Cuban said, “Gold is not a hedge against everything, is it? It’s a store of value and you don’t own the physical gold, do you? “Gold is a store of value and so is Bitcoin.” The famous investor explained why gold, which is not physically held, cannot protect one’s wealth in times of crisis.
Cuban said, “You can’t have bullion and you know what can happen if you have a bullion when things suddenly go bad? “Anyone can come and kill you and take your gold nugget,” he said.
Billionaire also supports Ethereum
Mark Cuban has long been hopeful of crypto. He reiterated his belief in the crypto space, most recently in November last year, saying that crypto will succeed because smart contracts will have a huge impact on developing valuable applications.
Cuban was previously widely viewed as an Ethereum (ETH) supporter because he said that Ethereum is “the closest cryptocurrency to real currency” and is superior to Bitcoin. “Applications that leverage smart contracts and extensions in Ethereum will eclipse Bitcoin,” Cuban said in journalist Laura Shin’s Unchained Podcast in April 2021.
Tim Draper still thinks big things will happen for BTC
In a recent interview, Draper stated that 2023 will be the year that Bitcoin reaches an enormous price of $250,000. He believes that number could also occur in early June. Draper says:
I extended my estimate by six months. $250,000 is still my number.
Draper also says he expects Bitcoin to be the only permanent cryptocurrency. He thinks many imitators and altcoins will fade into oblivion, but he is confident that Bitcoin will stand the test of time and become the strongest asset out there. In his own words:
I expect decent decentralized cryptos like Bitcoin and some weaker cryptocurrencies to become relics.
How close is that to leading crypto?
Bitcoin is currently approaching the $20,000 resistance, which means that over the next few months, BTC must rise by more than $230,000 to hit the price Draper predicted. So is this possible? While crypto has often proven to be unpredictable, it’s hard to imagine such a big jump in such a short time. Therefore, we can clearly say that we will wait for this price target for a while.
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