Billionaire and entrepreneur Mark Cuban, best known for the Shark Tank program, is not dirty of crypto. In an interview with Crypto Banter, he mainly told a lot of ethereum and polygon to possess. He goes a little deeper into the possibilities and his crytpo adventure.
Bitcoin is not a hedge against inflation
To start with, one statement from the entrepreneur jumped out. “Bitcoin is a great store of value, but it is not a hedge against inflation.” Bitcoin, the market leader in the crypto market, is a means for many people to protect themselves against inflation, but this is not the case for Cuban. He says that every time inflation rises, bitcoin falls. “There is also no lifetime in which that will take place.”
80% off Shark Tank investments in altcoins
He is very pleased with two altcoins: ETH on MATIC† He says bitcoin is a great product, but he seems to be a bigger fan of these two. Outside of his Shark Tank investments, 80% of his portfolio is in these two coins.
“Ethereum and polygon, both of which I have a lot of, you can see the usefulness of. You see more and more applications popping up there, and we’ll see what happens with ETH 2.0 in terms of gas fees. I think Polygon has done a great job, and you have other blockchains trying to do the same.”
Over Polygon (MATIC)
Ethereum transactions can be quite slow and also expensive. According to Polygon, that could have been better. Therefore, Polygon built a network that provides a supporting layer to the Ethereum network. This ‘Layer 2’ solution makes transactions more efficient.
Matic came last in the news because Sequoia Capital India, a company that makes investments for their clients, bought 450 million dollars from the coin. In euros, this is equivalent to approximately 393 million euros. Like Mark Cuban, this company firmly believes in Matic’s underlying network.
Try the-Fi
In addition to HODLing ethereum and polygon, Cuban is doing a lot of testing with De-Fi products. For example, he says in the interview that he uses Aave. “Centralized money markets are a hassle and De-Fi is a better way,” says the entrepreneur. “I am a big fan.”
–
