American billionaire and businessman Mark Cuban has said that he dislikes gold and views bitcoin as the same thing as gold.
In the limelight, Mark Cuban is popularly known for wearing different hats: a billionaire, a co-host of Shark Tank and owner of the Dallas Mavericks professional basketball team.
On Aug. 9, Cuban delivered these remarks while at Kitco News interview noting that finite supply of Bitcoin is a bonus to its investment value. He said:
“They’re both collectibles. The value is based off supply and demand. And the good news about Bitcoin is there’s a finite supply that’ll ever be created.”
Even though Cuban sees gold and Bitcoin as merely the same thing, he perceives the former very lowly.
Evidently, while conveying his feelings on gold as an investment, Cuban emphasized the following:
“Hate with extreme prejudice is not enough. Hate with double-extreme prejudice with an ounce of hot sauce.”
Gold comparison with digital gold
The time when bitcoin became referred to as digital gold is unknown but Nathaniel Popper The New York Times journalist published a book in 2015 to try to explain the theory.
In 2019, some experts came out to give their opinion as to whether bitcoin is digital gold. Zcash Foundation’s communications head Sonya Mann described the crypto in terms of demand and supply factors as well as finite quantity. However, what is worth noting is that Mann appeared much more optimistic compared to Cuban. She specifically made the following remarks:
“Bitcoin is deflationary by nature, due to the capped 21 million supply and the clever incentive structure that has reliably safeguarded its inviolability. The emergent order governing Bitcoin, as both a software product and a phenomenon, is undeniably path-dependent, attributable in large part to Satoshi Nakamoto’s design decisions. There is no guarantee that BTC will increase in value, but past trends and the underlying supply-demand dynamics suggest that it’s a reasonable long-term prediction.”