What Does Mark Cuban Know About Cryptocurrency?

Some members of the Bitcoin community have lashed out at Billionaire Mark Cuban about his comments about the recent Bitcoin price as being a bubble. This school of thought believes the comments created a panic which halted the ongoing price rally on Wednesday.

There have been criticisms of this issue on various platforms and groups online. Many think it is careless and uninformed.

Some members of the Bitcoin community have lashed out at Billionaire Mark Cuban about his comments about the recent Bitcoin price as being a bubble. This school of thought believes the comments created a panic which halted the ongoing price rally on Wednesday.

There have been criticisms of this issue on various platforms and groups online. Many think it is careless and uninformed.

Mr Cuban posted on Twitter on Tuesday that everyone is boasting about how easy they are making money from the price rally and that makes it a bubble. Bitcoin price which was then almost in $2900 range slowed down and started dipping.

It went down as low as the $2600 arena but started climbing back without the earlier speed. Even though it is now in the $2800 zone, some community members are of the opinion that his comments were uncalled and he has no expertise in the field to give such views.

Community Members’ Reaction

Core Media spoke to some people who expressed their displeasure about the Billionaire’s viewpoint. Nindy of Bitcoin Powpow thinks the successful entrepreneur and owner of Red Sox is absolutely ignorant about what he is talking about.

“This is a new model which old school like his calibre has no idea,” he intimated.

Another community member, Rasputin, had this to say:

“He’s an irrelevant vestige of an old economy. Kudos to him balling out on lucky investments in an earlier tech time. But in this new paradigm, he should either 1. Go away as his relevance (if any has waned), or 2. Quietly listen to the smartest people in the room and recognise he is not one of them (if ever). His arrogance for one is not welcome in the new paradigm but also he just doesn’t get crypto or the economics behind It. Do you trade your crypto the way you trade commodities or stocks? No. why? Because they are different animals.”

When Core Media asked Humaniq’s Ambassador for Nigeria, Adewale Bankole about his take on the issue, he had similar sentiments.

“Simply put, who cares what anyone over 60 thinks anyway? They are the reason everything is fucked up in the first place,” he noted.

Whatever Mark Cuban thinks, Bitcoin is back to the $2800s and many analysts believe this month will see a $3000 price. The pioneer crypto’s resistance of that panic created by the billionaire’s comments has become a fiasco.