Originally published at Raging Bull
Mark Cuban is now a major influencer in the crypto community after avoiding it like the plague for years. Don’t let this be you, ignorance is not bliss!
A quick breakdown.
- Billionaires have flipped to bullish on digital assets.
- Could $ETH flip $BTC?
- You will more than likely own a Non-fungible token (NFT) one day whether you want to or not.
Billionaires Flipping the Script? Welcome Aboard.
“Bitcoin–there’s even less you can do with it: at least I can look at my baseball card … I’d rather have bananas [than bitcoin], I can eat bananas.”- Mark Cuban 2019
This was Mark in 2019, a “no-coiner”. Fast forward two years and you get a different Mark, a bullish Mark. That’s usually how this goes. We have countless examples of multi-billionaires flipping the script on crypto once they realize the potential digital assets have. The same thing can be said for Kevin O’Leary, a fellow host on Shark Tank. (Any day now Ken Griffin!)
“Right now, bitcoin is a more established store of value and there is no reason to think it won’t continue to be for a long time,” “Ethereum, on the other hand, is booming with development that I think will create so many new applications”- Mark Cuban, 2021
Could $ETH flip $BTC??
The only digital asset that could even come close to flipping $BTC for the number 1 spot is $ETH, we call this theory the “flippening”. It’s very possible, but unlikely.
Here is a quick view of what the price for 1 $ETH would be if it had the current market cap of $BTC.
Is this a likely scenario? No, however there are major, MAJOR changes coming to $ETH in the new year with Ethereum 2.0. The supply of $ETH is going to drop drastically over the next few years and could even become deflationary. Instead of inflationary like the United States Dollar.
Mark Cuban The $ETH and NFT Bull
Mark speaks very bullish on Ethereum and NFTs (or non-fungible tokens). He says they will someday soon include mainstream music, movies, trading cards, and even virtual land. I couldn’t agree more.
He touted Bitcoin as an excellent store of value, but believed it was too slow and to become a global transactional currency. Years later and Cuban’s comes around on Bitcoin, saying it’s a better investment than gold due to its algorithmic scarcity.
Ethereum has thousands of decentralized applications (Dapps) including Decentralized Finance (Defi), video games, metaverses, social media platforms, NFTs, and more ideas that have yet to be discovered.
This really is just the tip of the iceberg for NFT’s, smart contracts, and decentralized applications.
Both Bitcoin and Ethereum will coexist, but only one was built to become a global computer utility token, or the Ethereum virtual machine (EVM). However, both of these could be considered as hedges against poor economic policies, AKA inflation.