Mark Cuban, proprietor of the Dallas Mavericks skilled basketball group, has stated that he hates gold as an funding, and views Bitcoin (BTC) as essentially much like gold.
Cuban delivered his remarks in an interview with Kitco Information on Aug. 9. He did observe that he views Bitcoin’s finite provide as a bonus to its funding worth, saying:
“They’re each collectibles. The worth is predicated off provide and demand. And the excellent news about Bitcoin is there’s a finite provide that’ll ever be created.”
Nevertheless, Cuban did say that he sees gold and Bitcoin as “being the identical factor,” and has a really low view of gold. Concerning his stance on the dear metallic, Cuban emphasised that to convey his emotions on gold as an funding, he must say:
“Hate with excessive prejudice shouldn’t be sufficient. Hate with double-extreme prejudice with an oz of sizzling sauce.”
Gold and digital gold
As beforehand reported by Cointelegraph, the origin of the time period “digital gold” to discuss with Bitcoin is unknown, however one concept is that it got here into vogue after The New York Instances journalist Nathaniel Popper printed his guide “Digital Gold” again in 2015.
Now in 2019, a lot of specialists have given responses as to whether or not they think about Bitcoin to be digital gold. Sonya Mann, the top of communications on the Zcash Basis, mentioned her reply by way of each its finite amount and provide and demand elements. Mann, for her half, seems far more optimistic than Cuban. She remarked:
“Bitcoin is deflationary by nature, as a result of capped 21 million provide and the intelligent incentive construction that has reliably safeguarded its inviolability. The emergent order governing Bitcoin, as each a software program product and a phenomenon, is undeniably path-dependent, attributable largely to Satoshi Nakamoto’s design selections. There is no such thing as a assure that BTC will enhance in worth, however previous developments and the underlying supply-demand dynamics recommend that it is a affordable long-term prediction.”