Mark says his general stance hasn’t really changed; he still believes bitcoin can’t be used as currency, but thinks its underlying narrative has strengthened, to become powerful enough to support it as a store of value.
But what Mark Cuban is really excited about is smart contracts, which are allowing developers to make any decentralized application they can dream of, sparking innovation and compounding network effects, and most importantly, laying the foundation for what he calls “friction-free banking.”
Because most of this innovation is happening on Ethereum, he believes ETH is becoming a better story of value than BTC. We talk about NFTs and how he believes they’ll be a game-changer, predicting digital collectibles will overtake the physical collectibles market.
We also talk about DAOs, and he muses how much better Wall Street Bets would be if it was a blockchain-based forum where users could pool their tokens and invest together. Cuban also goes over his takeaways after using DeFi dapps like Aave, and talks a bit about his portfolio, which right now holds more Bitcoin than Ether. But that may change.
He says when there are pull backs, he’s buying more ETH, not BTC.
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