May 15, 2021

Mark Kyuban: “Bitcoin will be able to prove itself if the global economy collapses”

Billionaire and famous Bitcoin critic Mark Cuban told Anthony Pompliano in his podcast what should happen in the world so that ownership of bitcoin becomes profitable.

In a recent episode of the Off the Chain podcast, Morgan Creek Digital co-founder and partner Anthony Pompliano talked with cryptocurrency skeptic Mark Cuban.

Among other things, Pompliano found out from Kuban what changes should occur in the cryptosphere in order for him to recognize Bitcoin as a valuable asset.

“Bitcoin should be easy to understand anduse for everyone, even for people without technical skills. Only then will it be possible to consider bitcoin as an alternative to gold - a recognized means of accumulation, ”said Kuban.

Kyuban believes that bitcoin is not even suitable enough as a means of payment:

“In terms of transactions, bitcoin givesuser complete freedom. But you cannot spend it. To do this, you need to convert it into something. Thus, cryptocurrency is still dependent on fiat currencies. ”

Mark Kuban reiterated his humorous statement made in 2019 that bananas have more practical value, since they can even be eaten:

“It’s easier to trade bananas, in extreme cases I can eat them.”

In the same 2019, the billionaire declared that goldmuch more useful than the first cryptocurrency, since a gold bar can at least be used as an interior item, while bitcoin is completely virtual. However, according to him, he owns bitcoins worth about $ 130.

Kuban also expressed doubts about the entire cryptocurrency industry. In his opinion, none of its applications has yet to receive widespread practical application.

And yet, Kyuban noted one scenario in which bitcoin can prove itself - this is the collapse of the global economy due to the loss of confidence in the fiat system as a result of mass emission of money by the authorities.

According to Forbes estimates, in 2019, the state of Kuban exceeded $ 4 billion.