The owner of the Dallas Mavericks – Mark Cuban – praised Ethereum and its native cryptocurrency as the investment option with the most upside potential. Speaking of bitcoin, he once again said it is superior to gold.
Investors Should Pick ETH
In a recent interview for CNBC, the American billionaire Mark Cuban advised beginners in the cryptocurrency industry to select Ethereum (ETH) as an investment choice. According to him, it has the biggest upside potential:
“As an investment, I think Ethereum has the most upside.”
Despite arguing in the past that it is easier to trade bananas than bitcoin, Cuban has an entirely different stance on the largest cryptocurrency now. He often praises it as a better financial instrument than gold, and he did it once again in the most recent interview, saying, “bitcoin is better than gold.”
The owner of the Dallas Mavericks also scratched the topic of Dogecoin. He said dealing with the meme-coin could be a good way to learn how the cryptocurrency market functions labeling it as a “fun” investment option.
“I’ve never told anybody it’s a great investment, I’ve often said it’s a great way to understand how cryptocurrency works, how to invest in the market,” Cuban stated last week.
It is worth noting that his NBA team accepts cryptocurrencies as a payment method for tickets and merchandise products, with Dogecoin being one of them. In fact, most fans employ the meme coin rather than bitcoin in those transactions as the former is “easy to spend,” while the latter is an appreciable asset for the long term.
Mark Cuban, Source: CNBC
Can Ethereum’ Dwarf’ Bitcoin?
The idea of Ethereum becoming the most dominant digital asset has been circling in the crypto space for a while now. In May this year, Cuban gave his reasons why Ethereum will eventually” dwarf” Bitcoin.
The entrepreneur believes ETH is superior to BTC because it allows a lot more transactions per second and is capable of supporting smart contracts. He also pointed out that development efforts on Ethereum’s network surpass those of Bitcoin:
“The number of transactions and the diversity of transaction types along with the development efforts in Ethereum will dwarf Bitcoin. The utilization of Ethereum is much higher.”
Nigel Green – Founder of deVere Group – opined on the topic too. He said Ethereum is the most in-demand development platform for smart contracts, while the native token – ether – has a “higher level of real-use potential” than bitcoin. Taking this into account, Green believes that Ethereum will surpass the leading cryptocurrency in the next five years.
Featured Image Courtesy of Yahoo