Mark Cuban is a well-known businessman and investor, who has made his fortune in a variety of industries. He is also seen weekly on the long-running TV program Shark Tank. But the wealthy maverick is also gaining attention these days as a vocal proponent of blockchain and cryptocurrencies. He thinks that where blockchain technology is today is similar to the early stages of the internet.
Cuban is putting his money where his mouth is. He bought some Bitcoin years ago and has held on to his stake. The entrepreneur revealed earlier this year that his cryptocurrency portfolio consists of “60% Bitcoin, 30% Ethereum, and 10% the rest.” Cuban bought a small amount of Dogecoin earlier this year as a “fun and educational” investment.
In a recent interview with the business news outlet cheddar, Cuban said Ethereum has more upside potential than Bitcoin. He expects new applications to be built on Ethereum’s blockchain that will make the cryptocurrency more valuable than ever. These new applications will include decentralized finance (DeFI) apps and non-fungible tokens (NFTs).
Non-fungible tokens are digital assets that are unique, meaning that each one is different from all other copies. These tokens have a wide range of applications, including in gaming, collectibles, and online marketplaces.
One such online marketplace is Blocto, which is described as “the world’s first crypto wallet and NFT marketplace.” Blocto was founded by Amaury Séchet, who is also the lead developer of Bitcoin Cash. In a recent blog post, Séchet said that he decided to create Blocto because “the current state of the art for online marketplaces is deeply unsatisfactory.”
He believes that Blocto has the potential to become the world’s leading marketplace for NFTs. Séchet is not alone in this belief. There is growing interest in NFTs from developers and investors alike.
Ethereum’s upcoming upgrade, called Constantinople, is expected to make the blockchain faster and lower transaction fees. This could make it an even more attractive platform for developing new applications.
There’s no guarantee that Ethereum will be a monster winner in 2022. But don’t be surprised if it is. One famous billionaire certainly won’t be. It’s not an easy decision, but it’s a very interesting one. Mark Cuban has bought some Bitcoin and believes Ethereum could be bigger than ever. Let’s chat about what this means for you and your investment strategy.