- Billionaire investor and “Dallas Mavericks” owner Mark Cuban believes that bitcoin is not, and will never be, a hedge against inflation.
- “You still think btc is an inflation hedge? It’s not and never will be,” Cuban tweeted – underlining an earlier remark that cryptos are “not a cure for any financial system.”
- In a Twitter exchange on Tuesday, the “Shark Tank” star also shared his views on other cryptocurrencies like dogecoin – he said it’s “better than a lottery ticket.”
Business Insider from Markets Insider writes:
“Billionaire investor Mark Cuban believes bitcoin is not, and never will be, a hedge against inflation.
In a Twitter exchange Tuesday, the “Dallas Mavericks” owner shared his views when questioned about his support for cryptocurrencies like dogecoin, which he said is “better than a lottery ticket,” as opposed to bitcoin.
“Now do a 1 year performance comparison. I said Doge was good for spending and better than a lottery ticket.”
“You still think btc is an inflation hedge? It’s not and never will be. Doge/btc is flat last 30 days,” the “Shark Tank” star said on Twitter.
An inflation hedge is an asset that helps protect against the erosion of returns from a sustained increase in price pressures.
Gold has traditionally been considered an inflation hedge, while bitcoin has also started to be considered one by some investors and academics.
Wharton School professor Jeremy Siegel has said bitcoin stands out as an inflation hedge. He compared it to gold, stating that digital coins are the new bullion for millennials…”
See full story here.
Leave a Reply