Mark Cuban, the billionaire owner of the Dallas Mavericks, said they don’t own any gold. There is a disagreement about which cryptocurrency is better: Gold or Bitcoin.
Gold is not a hedge against anything
On the latest episode of Bill Maher’s Club Random podcast, which aired on Dec. 26, billionaire owner of the Dallas Mavericks Mark Cuban, advocated for Bitcoin being a better store of value than gold.
Maher said that he is “rooting against Bitcoin,” and Cuban agreed. Cuban said that he wants Bitcoin to go down so he can buy more.
Cuban then said that if you have gold, you’re dumb as fuck. Cuban then encouraged Maher to get Bitcoin.
The billionaire and Maher discussed the advantages and disadvantages of both asset categories. The billionaire said, “Gold is not a hedge against anything,” and Maher responded, “You don’t own the physical gold, do you?”
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Cuban told that he owns more Bitcoin than gold. He even admitted that he doesn’t own any gold. However, Cuban said that it’s okay if people who don’t hold their own coins or gold aren’t asking for trouble. He said that it’s safe to store assets of value.
There’s more risk if the custody host lends out the gold or crypto for any reason. If you don’t self-custody, I’d make sure it’s a regulated entity that has required controls and liquidity minimum requirements.
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Logll Tech News reported, that Bitcoin’s increasing correlation with gold, the S&P 500 and the Nasdaq 100 shows that more investors see Bitcoin as a “relative safe haven.” According to Bank of America digital strategists, the rise in correlation between Bitcoin and gold is one of the major indicators demonstrating investors’ confidence in Bitcoin amid the ongoing economic downturn.
Cuban went on to say that people should be careful about where they store their assets. He said that it’s more risky to store assets with a custody host that lends out the gold or crypto. They advised people to make sure it’s a regulated entity that has required controls and liquidity minimum requirements.
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FAQ:
❓ Which is better, gold or Bitcoin?
There is a disagreement about which cryptocurrency is better: gold or Bitcoin. On the latest episode of Bill Maher’s Club Random podcast, which aired on Dec. 26, billionaire owner of the Dallas Mavericks Mark Cuban, advocated for Bitcoin being a better store of value than gold.
Maher said that he is “rooting against Bitcoin,” and Cuban agreed. Cuban said that he wants Bitcoin to go down so he can buy more. Cuban then said that if you have gold, you’re dumb as fuck. Cuban then encouraged Maher to get Bitcoin.
✔️ Why does Mark Cuban want Bitcoin to go down?
The billionaire wants Bitcoin to go down in price so he can buy more of it.
🚀 What are the advantages and disadvantages of gold?
The advantages of gold are that it is a precious metal with a long history of being accepted as a store of value. Gold is also abundant enough that coins can be created, but rare enough so that it can only be produced slowly. The disadvantages of gold are that it is not as easily divisible as other commodities, it is not easy to transport, and its price can be volatile.
📢 What are the advantages and disadvantages of Bitcoin?
The advantages of Bitcoin are that it is a digital asset that can be easily divided and transferred, it is easy to transport, and its price is more stable than gold. The disadvantages of Bitcoin are that it is not as widely accepted as a store of value, and its price can be volatile.
🧐 Where is the best place to store assets?
The best place to store assets is in a safe, secure, and private location.