American millionaire Mark Cuban reveals why “Bitcoin is more of a religion than the solution to a problem”.

He stressed that the asset’s abundance of interest would have the ability to transfer governments to major regulatory measures designed to protect their currencies and collect taxes.

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American millionaire Mark Cuban reveals why “Bitcoin is more of a religion than the solution to a problem”.
American millionaire Mark Cuban reveals why “Bitcoin is more of a religion than the solution to a problem”.

Mark Cuban, The American billionaire businessman and investor confirmed his opinion on the cryptoasset, making it known that it is more of a collectible than a reliable financial asset.

Despite the extraordinary increase in Bitcoin price this year 2020, the businessman and owner of the basketball team Dallas outsiders argued in a recent interview with Forbes that he has not changed his mind that this financial instrument will not be converted into a reliable currency.

“My thoughts haven’t changed. It’s a reserve of value like gold, which is more religion than a solution to any problem,” said the businessman.

In the same way he underscored all the talk about them as “counterproductive” Bitcoin or Any cryptocurrency can replace the fiat currency. He also mentioned, “No matter how much Bitcoin fans want to pretend it’s a hedge against apocalyptic scenarios, it’s not. Countries will take steps to protect their currencies and their ability to collect taxes. The more people believe that this is more than a store of value, the greater the risk of government interference, ”says the businessman.

“Bitcoin has seen a fair share of comparisons to gold over the years. Both are rare assets that are often touted as a means of storing value. The commission of US Commodity Futures Trading (CFTC) It even classifies BTC as a commodity, just like gold, ”the executive said.

Once, Cuban said a comparison of Bitcoins with other collectibles and mentioned “A banana is more useful, potassium is a valuable nutrient for everyone on the planet, but as long as people accept BTC as the digital version of gold, it can be invested.”

In short, he claimed that like bananas, staples offer more benefits than staples Bitcoinbut he recognized it as “invertible asset”.

The The price of the cryptocurrency has broken records in recent days due to investor interest. This Thursday it hit $ 23,000 for the first time. It was calculated that from last September to the present day Bitcoin’s value has increased by up to 20 percent.

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