Mr. Mark CubanImage by DonkeyHotey from Flickr

Mark Cuban is a major player in the crypto community, even more so than the “Dodgefather” himself, Elon Musk.

Although the Dodgefather pumps both Bitcoin and Doge on a consistent basis he stays away from discussing any prospective altcoins like, for instance, the second most popular coin by market cap, Ethereum.

On the other hand, Dallas Mavericks owner, billionaire tech investor and Shark Tank star Mark Cuban doesn’t just proudly boast his diverse portfolio of altcoins, he believes that Ethereum is a far better investment than Bitcoin.

“Ethereum right now has an advantage over Bitcoin as a store of value and transactional,” says Cuban in a podcast with the Defiant’s Camilla Russo. “As more people get into NFTs, all they’re going to know is Ethereum. I know everyone's going to bitch at me. But, if I decided I like digital art how do I buy digital art — with Ether.”

Cuban added that smart contracts and DeFi make Ethereum a tour de force in the crypto industry.

Additionally, when speaking more about NFTs [or nonfungible tokens], he says they will someday soon include mainstream music, movies, trading cards, and even virtual land.

“This is like the early internet days all over again,” Cuban told a CNBC reporter. “I think [NFTs and blockchain tech is] going to be huge.”

Mark Cuban Likes DeFi, Yield Farming and NFTs

Cuban was not always a cryptocurrency bull.

In 2019 he made headlines when he said he’d “rather have bananas than Bitcoin,” calling crypto “too complicated.”

He touted Bitcoin as an excellent store of value, but believed it was too slow and immutable to become a global transactional currency. Cuban eventually came around on Bitcoin, however, saying it’s a better investment than gold due to its algorithmic scarcity.

As for Ether, he says he’d rather buy more Ethereum on a price pullback than Bitcoin.

“When Bitcoin pulled back to $30,000 I didn’t buy more,” Cuban told Camilla Russo earlier this year. “When Ethereum pulled back to $1,000 I did buy more — and if it did that again I’d buy more”

Cuban is more bullish on Ethereum because of the applications [or DApps] that can be built on top of the platform, namely DeFi, yield farming tools and NFT marketplaces; all of which do not exist on Bitcoin’s blockchain.

He even amassed his own digital art collection and sells NFTs on platforms like Mintable and Rarible. In particular, he believes the lifetime royalty fees offered to NFT artists will shake up the entire entertainment and art industries.

“When I realized there was a little thing called resale percentage, so that when I put up something for sale and it got resold I’d get a percentage for life — that changes how music, video, and how the internet works forever.”

Cuban’s Predictions For Ethereum

“Make no mistake — Ethereum would never have existed without Bitcoin as a forerunner. That said, I think Ethereum is ahead of Bitcoin in many ways and represents the bleeding edge of digital currency.” — Fred Ehrsam, co-founder of Coinbase

Cuban would likely agree with the aforementioned quote. He isn’t selling his Bitcoin anytime soon — unlike yours truly — and believes nothing will ever dethrone Bitcoin as the ultimate store of value.

However, digital art, the DeFi ecosystem, NFTs, yield farming, and decentralized applications work best on Ethereum and will attract more people into cryptocurrency in the long run.

This year alone Tom Brady, WWE, Trevor Lawrence, the NYSE, Snoop Dog, Mike Shinoda Grimes, Elon Musk, Aphex Twin and even Tony Hawk have released their own NFTs. I fully believe their fanbases will get behind their favorite artist — or stock exchange — and learn more about Ethereum in the process.

Both Bitcoin and Ethereum will coexist, but only one will become a global computer utility token while the other does one single thing really, really well.

“Bitcoin, right now, has evolved to be primarily a store value, and it’s very difficult to use it for anything else,” Cuban said in an interview with Market Insider. “You really have to work a lot harder on bitcoin than you do on Ethereum.”

He added: “In a few years, I think Ethereum and maybe 2 or 3 other blockchains will have their place, and those will be the winners.”

Ever since I was a child it was my dream to become a financial advisor. Unfortunately, it never came true. Therefore I am not a financial advisor and you should do your own research and not just listen to random people on the internet. Nothing contained in this publication should be construed as investment advice.

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