American billionaire mark Cuban, owner of basketball team “the Dallas Mavericks” and one of the “sharks” in the reality show Shark Tank, April 6, gave an exclusive interview to the online edition of Kitco News, writing about the trading of precious metals. He spoke about his views on investing in different assets, including bitcoin and gold.
To the question about the safest investment Cuban gave the answer I expected to hear the most. He didn’t say that it stocks, gold or bitcoin. The billionaire said that the payment of Bank loans, student loans, or “any debt” — this is the best investment.
In particular, Cuban said:
Whatever the percentage, say, student loans give 7%, paying the loan, you earn the interest that becomes your immediate profit. It is much safer than buying stocks, real estate or something else.
Talking about gold and bitcoin, Cuban admitted that is not true to their fans and added that cryptocurrencies and precious metals have similar characteristics. Cuban called them “collectibles”.
The billionaire explained that the cost of both gold and the main cryptocurrency based solely on supply and demand. He added that the scarcity of bitcoin gives it some advantage over gold:
The advantage of bitcoin is that is created a limited number of coins, while gold production will never cease.
Cuban is easy to change point of view on bitcoin. In June 2017 he called the world’s largest cryptocurrency bubble, but in October, acknowledged that the blockchain and cryptocurrency is a new word in the world of technology.
Also in October, the Cuban recorded a video tutorial on “How to become rich”, in which he advised to invest in bitcoin or ether is not more than 10% savings. Such a modest scale, he explained the high risk associated with these assets. Now Cuban has advised fans a safe investment to put money into a Bank account. According to him, the only way investors will “be able to sleep at night.”
In 2017, the billionaire invested in the ICO and cryptocurrency hedge Fund and launched a cryptocurrency based on the Ethereum Protocol Mercury. In January of this year, Cuban announced that basketball team, “Dallas Mavericks” in the coming season will begin to accept bitcoin payments.