Sunday, January 29, 2023

Mark Cuban to Bill Maher: “If You Have Gold, You’re Too Stupid To … Get Bitcoin”

The debate about whether gold or bitcoin (BTC) is a better store of value continues in the cryptocurrency space and traditional investment circles.

last episode of the podcast club random by Bill Maher, aired December 26, Mark Cuban, the billionaire owner of the Dallas Mavericks, defended bitcoin as a better store of value than gold.

In response to Maher, who openly admitted that he is “against bitcoin”.Cuban shamelessly agreed, commenting, “I want bitcoin to go down so I can buy more.” Cuban continued to scold Maher in a friendly manner, “if you have gold, you’re very stupid” before encouraging Maher to “buy bitcoin”.

YouTube video

The two then discussed the pros and cons of both asset classes, with the billionaire saying that gold is “not a hedge against anything” while snapping at Maher: “You don’t have physical gold, do you?”

Speaking to Cointelegraph, Cuban confirmed that he actually owns more bitcoin than gold, even admitting that “Yeah. I don’t have gold.” However, when Cuban told Cointelegraph that he chooses to hold his own currencies personally, he took issue with the idea that people who don’t have their own coins or gold are inevitably in trouble. are asking. When it comes to securely storing valuable assets, he said:

“It depends where. If the custodial host lends gold or cryptocurrency for any reason, there is a lot of risk. If you don’t do self-custody, I would make sure it’s a regulated entity that has There are necessary controls and minimum requirements of liquidity”.

On October 25, Cointelegraph reported that bitcoin’s rising correlation with gold, the S&P 500, and the Nasdaq 100 indicates that a growing number of investors view BTC as a “relative safe haven.”

According to digital strategists at Bank of America, the rising correlation between bitcoin and gold amid the current economic downturn is one of the key indicators showing investor confidence in BTC.

the explanation: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be construed as financial advice or investment recommendation. All investments and commercial dealings involve risk and it is the responsibility of each individual to conduct appropriate research before making any investment decision.

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Investing in crypto assets is not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed at or accessible to investors in Spain.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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