TL;DR Breakdown
- Mark Cuban is holding about 90 percent of his crypto portfolio in Bitcoin and Ether.
- He believes that ETH is the closest to true currency.
American billionaire entrepreneur, Mark Cuban, is notably one of the big-name digital currency believers and investors. While a sizable percentage of his cryptocurrency portfolio is allocated to Bitcoin (BTC), he admitted to owning a lot of the second-largest crypto Ether (ETH), which according to him, is “the closest to a true currency.” He revealed this during a recent episode of “The Delphi Podcast.”
Mark Cuban holds 60% in BTC, 30% in ETH
The billionaire disclosed that 60 percent of his cryptocurrency holdings are in Bitcoin, while as much as 30 percent are held in Ether. The remaining 10 percent covers other digital currencies. Mark Cuban opined that the capabilities of the Ethereum blockchain are improvable; hence, it’s “adaptable over time.”
“I wish I had bought it sooner, but I started buying it four years ago, simply because I think it’s the closest we have to a true currency,” he added.
For Bitcoin, Cuban doesn’t welcome the idea that the leading cryptocurrency is better off as a currency. Instead, he sees BTC more as a better store of value. “People said bitcoin is a currency, and I’m like, ‘It’s just not going to work.’”
Mark Cuban sees BTC as a better alternative to gold. This is the more reason why he hasn’t sold of his Bitcoin position.
Billionaires bought Dogecoin for their kids
Mark Cuban didn’t specify what other cryptocurrencies made of the remaining 10 percent of his crypto portfolio. However, he recently purchased some Dogecoin (DOGE) for his son, which he said was just for fun and educational purposes. In a similar development, the billionaire founder of SpaceX and Tesla, Elon Musk, also bought some of the meme cryptocurrency for his kid.
Could Dogecoin be referred to as the billionaires’ favorite fun coin?
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