Mark Cuban has been accused of attempting to use his influence to turn the public off of Bitcoin. Some prominent cryptocurrency industry personalities believe that the billionaire investor has some vested interest in suppressing the price of the leading digital currency.
The accusations come off the back of a video in which Cuban argues that Bitcoin is nothing more than a collectible, like a baseball card or even fine art. Saying that the cryptocurrency has no intrinsic value, he adds that you can’t even enjoy it for its aesthetic qualities as you might a painting or trading card.
Another criticism he raises about Bitcoin is that it is apparently too confusing for the average person. This is somewhat ironic since it’s exactly the kind of attack people used against the internet in its early days, arguing that email would never catch on because the user experience was still problematic.
Cuban, of course, made most of his fortune from the sale of Broadcast.com to Yahoo!
Mark Cuban Vs Bitcoin
According to Forbes, the investor appeared in the anti-Bitcoin video in October this year. However, it has attracted a new wave of ire from the Bitcoin proponents as it has started to circulate again on social media.
Choose a Side, Cuban!!
Ahahaha, now I get it! @mcuban has been incentivized, either thru his own investments, or funding from a 3rd party, to create Bitcoin FUD for old & uneducated people. Hilarious effort, but embarrassing and evil as fuck.
Offering an alternative view is attorney Preston Byrne. He believes Cuban’s anti-Bitcoin sentiment comes from a lack of understanding about what makes the cryptocurrency valuable for some.
Cuban, being an American billionaire, has a very privileged existence when compared with most people on the planet. He doesn’t lack access to modern banking and doesn’t live in a nation where he risks waking up to see his net worth’s purchasing power slashed by huge percentages every day. The investor is, therefore, poorly positioned to see the merit of Bitcoin.
.@mcuban is an establishment billionaire, which is why he has a blind spot for Bitcoin. People who are deplatformed, de-banked or unpersoned need tools like Bitcoin to survive. He doesn’t need it and likely never will.