“80% Of The Investments That I Make Are In Or Around Cryptocurrencies.” Asserts Mark Cuban

“80% Of The Investments That I Make Are In Or Around Cryptocurrencies.” Asserts Mark Cuban
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Mark Cuban is loading his portfolio with crypto-related investments "in case the money goes to hell."

In a recent interview on “The Problem With Jon Stewart” podcast, the Dallas Mavericks boss revealed that 80% of his investments were crypto-related.

“80% of the investments that I make that are not on ‘Shark Tank’ are in or around cryptocurrencies,” he told Stewart.

Mark that is popularly known for his role on, reservoir shark, where he and other business tycoons invest in some of the most brilliant ideas by budding entrepreneurs, he added that he had given up on investing in traditional companies.

“The investments I’m making now are not in traditional businesses,” he said.

DAO’s Are The Future

He went on to highlight the anonymous decentralized organizations (DAOs) which, according to him, particularly caught his attention, stressing that, this is really where he sought to invest.

Mark's interest in daos was born from its decentralized and insecure nature. This means that every decision has to be voted by all members as long as they hold that daos governance tokens elimination of bureaucracy and "absolute power" which he said, corrupts. According to him, that is what most people have alluded to and that is the way to go.

“All these new businesses are being formulated now that take this new approach,” he added noting that DAOs would soon change the vertical business models of sectors such as Banking and insurance.

Brand on Smart Contracts. 

He also revealed his bullish stance on smart contracts which, according to him, are a crucial element in the execution of various instructions on the blockchain. While most cryptocurrencies are initially seen as having no use case, smart contracts are already creeping into crypto networks adding value. Cuban believes that smart contracts are essential to train daos, defy applications, and nfts.

Hinting at claims that cryptocurrencies are "casinos", due to their speculative mark stated that crypto speculation was no different than stock markets anymore now that it is a new sector. “It’s like the early days of the internet,” he said “The exact same thing is happening now. It's 1995 for cryptocurrency." 

The Billionaire also expressed his disinterest in the price of cryptocurrencies when investing comparing it to what he called the “gamesmanship that is usually played with stocks.” However, although Mark has been a shrewd investor in various crypto projects including Dogecoin, Ethereum, NFTs, DAOs, and various DeFi protocols, he remains choosy and realistic when investing.

"cryptocurrency is difficult to understand and this is a hassle. But 10 years from now, there’s going to be those that succeed that will create its own economy,” he continued.