Mark Cuban touts Bitcoin, Ethereum and Dogecoin

Billionaire Mark Cuban compared the leading cryptocurrency to gold and called both assets financial religions. In his view, Bitcoin is easier to store and trade, while “gold is a hassle.”

Crypto succeeds when it’s a more productive implementation of it’s competition. BTC/Gold are both financial religions. BTC is easy to trade/store/create with no delivery issues. BTC also enables transfer of value locally and globally . Gold is a hassle. Just look at Ft Knox

— Mark Cuban (@mcuban) May 2, 2021

The investor also highlighted Ethereum’s smart contracts advantages. They are better, cheaper and faster for authenticating, buying, selling and delivering digital goods than their counterparts, Cuban said.

«Ethereum smart contracts for DeFi better enable depositing, saving and trading of financial instruments than banks. They are automated, trustless and near-instant

“Ethereum smart contracts for DeFi better enable depositing, saving and trading of financial instruments than banks. They are automated, trustless and near-instant,” the billionaire wrote.

Cuban also criticised the banking system for adding cost to the same operations performed by smart contracts, and for its reliance on buildings and people.

Eth Smart Contracts for De-Fi are better at enabling depositing/saving/trading of financial instruments than banks. One is automated and trustless and near immediate. The other is dependent on buildings full of people who add cost and friction to the same transactions

— Mark Cuban (@mcuban) May 2, 2021

According to the investor, the usefulness of Dogecoin as a currency grows as more companies accept it as a form of payment. Cuban is convinced that the meme digital asset can hold its purchasing power better than the US dollar.

As long as more companies take doge for products/services, then Doge can be a usable currency because it MAY hold its purchasing value better than a $ in your bank. If interest rates skyrocket or the amount spent falls or stagnates, so will Doge. Yes, a joke is now legit

— Mark Cuban (@mcuban) May 2, 2021

Earlier in April, Cuban revealed his cryptocurrency portfolio. The billionaire said he allocated 60% to Bitcoin, 30% to Ethereum, and 10% to other digital assets.

In February, Cuban called Bitcoin a store of value, not a currency. In January, he compared the leading cryptocurrency to Amazon during the dot-com bubble.

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