Amazon, bitcoin bubble, dot com bubble, internet stock bubble, Mark Cuban, mark cuban bitcoin, mark cuban btc, mark cuban cryptocurrency, mark cuban eth

Billionaire Shark Tank investor Mark Cuban sees cryptocurrency “exactly†like the dot-com bubble. He says bitcoin and a few other cryptocurrencies are analogous to those dot-com stocks, like Amazon and Ebay, that survived the bubble burst and thrived.

Mark Cuban Likens Crypto to Dot-Com Bubble

Shark Tank star Mark Cuban compared what he feels is a bubble in bitcoin to the dot-com bubble on Monday after the price of the cryptocurrency took a nosedive. The owner of the National Basketball Association’s (NBA) Dallas Mavericks tweeted:

“Along the way, many fortunes will be made and lost and we find out who has the stomach to hodl and who doesn’t. My advice? Learn how to hedge,†he elaborated.

At the time of writing, his tweet has garnered 895 comments. It has also been retweeted over 1.7K times and liked more than 10.8K times. Several people on Twitter view Cuban’s comment as bullish for BTC and ETH.

Among the commenters was Tyler Winklevoss, co-founder of Gemini cryptocurrency exchange, who argued that cryptocurrencies are not like stocks. “Wrong. Cryptos like BTC and ETH are networks, they are definitely not stocks or shares of a company. They are like owning a piece of the early Internet. Comparing them to stocks is an apples to oranges comparison,†he explained to Cuban. After discussing bitcoin as a store of value, the Shark Tank star reiterated his stance:

Gold bug Peter Schiff chimed in, telling Cuban: “Mark, you can’t store what you don’t have. Gold is a store of value as you are storing gold for future use as a metal. Jewelers will need gold, computer chip manufactures will need gold, dentists, etc. But no one actually needs bitcoin now, so no one will need it in the future.â€

In a follow-up tweet, Cuban wrote:

The Gemini co-founder disagreed. “The narratives around debasement of fiat are facts. Have you looked at the Fed’s balance sheet lately? What’s the matter with supply and demand? The value of land, a Picasso, or the Dallas Mavericks franchise are determined by supply and demand too,†he told Cuban.

Do you agree with Mark Cuban about bitcoin? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

RELATED NEWS

Amazon Is Working on Digital Currency Solutions— Pilot Project Set to Launch in Mexico

The e-commerce giant is preparing to explore the crypto business, as a recent job listing suggests. Amazon is looking to launch a pilot project in Mexico that seeks to build a team that develops new solutions based on “digital currencies.†E-Commerce Giant Amazon Seeks to Target Customers in ‘Emerging Markets’ According to a job posting, […]

Xem chi tiết: Amazon Is Working on Digital Currency Solutions— Pilot Project Set to Launch in Mexico

Haunted by Past Elon Musk Predictions, Gold Bug Peter Schiff Tears Into Tesla’s BTC Acquisition

After previously claiming that Elon Musk was too smart to buy bitcoin, Euro Pacific Capital CEO Peter Schiff is reacting angrily to reports that Tesla has acquired the cryptocurrency. In a series of tweets on February 8, Schiff now claims that Musk has no interest in bitcoin’s store of value credentials but is only interested […]

Xem chi tiết: Haunted by Past Elon Musk Predictions, Gold Bug Peter Schiff Tears Into Tesla’s BTC Acquisition

Haunted by Past Elon Musk Predictions, Gold Bug Peter Schiff Tears Into Tesla’s BTC Acquisition

After previously claiming that Elon Musk was too smart to buy bitcoin, Euro Pacific Capital CEO Peter Schiff is reacting angrily to reports that Tesla has acquired the cryptocurrency. In a series of tweets on February 8, Schiff now claims that Musk has no interest in bitcoin’s store of value credentials but is only interested […]

Xem chi tiết: Haunted by Past Elon Musk Predictions, Gold Bug Peter Schiff Tears Into Tesla’s BTC Acquisition

Mark Cuban Tells Stock Traders That BTC Hodlers ‘Are a Great Example to Follow’

Billionaire and crypto-asset supporter, Mark Cuban has identified bitcoin hodlers’ endurance as a model that stock investors can follow. According to the billionaire, after acquiring the asset at high prices back in 2017, the hodlers “held on because they believed in the asset.†Following in the Footsteps of BTC Hodlers These long term hodlers were […]

Xem chi tiết: Mark Cuban Tells Stock Traders That BTC Hodlers ‘Are a Great Example to Follow’

Buying Items and Services With Bitcoin: A Look at Crypto Asset Accepting Merchants in 2021

While the price of bitcoin and numerous cryptocurrencies have jumped in value, a great number of merchants have been willing to accept digital currencies for goods and services. These days a crypto proponent can buy literally anything with their crypto assets and some of these items are very unique and extraordinary. Crypto Spenders Can Build […]

Xem chi tiết: Buying Items and Services With Bitcoin: A Look at Crypto Asset Accepting Merchants in 2021

Bitcoin Near ‘Extreme Bubble’ but Tesla More Vulnerable: Deutsche Bank Survey

Deutsche Bank has conducted a survey about financial bubbles. Eighty-nine percent of respondents see some bubbles in financial markets, with bitcoin near the “extreme bubble†territory. However, more respondents expect the cryptocurrency to double than they do Tesla’s stock. Deutsche Bank’s Bubble Survey A survey published Tuesday by Deutsche Bank asked 627 market professionals to […]

Xem chi tiết: Bitcoin Near ‘Extreme Bubble’ but Tesla More Vulnerable: Deutsche Bank Survey

Bitcoin Now the Most Crowded Trade – Labeled a ‘Bubble’ in Bank of America Survey

According to findings of a recent Bank of America (BOA) survey, buying bitcoin has now surpassed tech stocks as the most crowded trade. This new ranking means tech stocks have been relegated into second place for the first time since October 2019. Bitcoin Bubble Ranking Still, a majority of the interviewed fund managers believe bitcoin […]

Xem chi tiết: Bitcoin Now the Most Crowded Trade – Labeled a ‘Bubble’ in Bank of America Survey

Bank of America Predicts ‘Mother of All Bubbles’ for Bitcoin

Bank of America’s chief investment strategist sees “the mother of all bubbles†in bitcoin. He compared the cryptocurrency’s recent rally to other bubbles, emphasizing the “increasingly speculative†investing behavior of bitcoin. Bank of America Warns of Huge Bitcoin Bubble Bitcoin’s recent rally has worried a number of prominent financial analysts who warned of a huge […]

Xem chi tiết: Bank of America Predicts ‘Mother of All Bubbles’ for Bitcoin

Mark Cuban’s Bitcoin Plan: Run for President if BTC Hits $1 Million, Free Satoshis for Every Citizen

Shark Tank’s Kevin O’Leary Warns Regulators Will Come Down Hard on Bitcoin — ‘It Will Be Brutal’

Shark Tank’s Kevin O’Leary Warns Regulators Will Come Down Hard on Bitcoin — ‘It Will Be Brutal’

Shark Tank’s Mark Cuban Says Bitcoin Is a Store of Value but ‘More Religion Than Solution to Any Problem’

Shopping.io Enables Crypto-Payments on Popular E-Commerce Websites

Pfizer’s Pandemic Vaccine News Fails to Dampen Interest in Bitcoin

Winner Cashes Out $160,000 from Bitcoin.com Games with a 13,870x Multiplier

ECOMI to List OMI Tokens With BitMax

Other Articles