One of the biggest regular critics of Bitcoin says that the best cryptocurrency can be a valuable store after all.
In a new conversation with Bitcoin maximalist Preston Pysh, billionaire entrepreneur Mark Cuban gives a rare compliment to BTC. But he claims that Bitcoin has no chance of becoming a global reserve currency and challenging the US dollar.
It can be a valuable store. But the conversation started with the challenges of the current federal reserve system. He is not mistaken in the system. But he is wrong with the fungibility of btc and its ability to influence society as a replacement for the current system
– Mark Cuban (@mcuban) June 5, 2020
Late last year, Cuban said bananas are more useful to him than Bitcoin.
“I prefer bananas. I can eat bananas. Crypto, not so much. Look, I can be a great argument for blockchain. There are many applications and they will be used.
But you don’t need public Bitcoin, BTC. You can make blockchain yourself without using all available cryptocurrencies. ”
Bitcoin’s usefulness is a recent topic of debate, with Goldman Sachs’ recent report dismissing the leading cryptocurrency as a legitimate asset class.
Meanwhile, analyzes by companies such as Bloomberg have drawn parallels between Bitcoin and gold and projected that the digital assets will to achieve $ 20,000 before the end of the year.
Gold, also known as a store of value, was never meant to replace the US dollar. Similarly, Cuban states that Bitcoin will never replace the US dollar, an opinion that Bitcoin maximists may disagree with.