Mark Cuban, an American businessman and investor who is also a billionaire, recently said that he hates gold. Not stopping there, he also proclaimed gold a religion that some people dogmatically cling to no matter what. Although there is some fundamental value to it, he sees it as essentially a collectible.
Mark is not afraid to throw punches, because he said that he sees both gold and Bitcoin being the same thing at the end of the day. Angering many who invest in cryptocurrency, this brazen statement has generated discussion as to whether gold and Bitcoin are equally useless.
Although Mark harbors hate with extreme prejudice equally towards gold and Bitcoin, he misunderstands the technology behind Bitcoin. The value of both Bitcoin and gold can be partially based off of the supply and demand, but that is not where all the value comes from with Bitcoin. There is far more value offered by bitcoin than simply being a digital collectible. It can be, and is, used as a digital currency.
There is one distinction Mark Cuban makes between gold and Bitcoin. While there is a definite cap on the supply of Bitcoin (21 million), there is no such guaranteed limit for gold. This is because gold mining companies can keep on mining for gold and finding more. They may not find as much as time goes on, but they are still able to find more. Nobody knows how much gold there is in the Earth. This distinction shows us how Mark is contradicting himself when saying both gold and Bitcoin are exactly the same. They are not.
Mark does not see gold as a currency. He bases this on the fact that people are not carrying around bags of gold everywhere to use for buying goods and services. That is a valid point. However, Bitcoin is definitely usable as a currency and it is being used as currency as we speak. There are lots of businesses which now take Bitcoin as a method of payment for both goods and services. Some companies like Overstock are even paying their taxes with Bitcoin and states like Ohio are allowing people to pay their taxes with Bitcoin as well.
Regardless of Mark's opinions on Bitcoin, if you want to invest in a well-established digital currency, then Bitcoin is your best investment. With Cryptolico, you can put your money into good hands. You can take part in low-risk trading, since your funds would only be invested for three hours during a 24 hour period. Once the money you invested reaches a profit of 0.11% to 0.15%, your cryptocurrency assets will be sold and exchanged for the stablecoin USDC. This process enables you to earn 3.6% to 3.8% every month.
Bitcoin is a great investment, as are other cryptocurrencies such as Ethereum and Litecoin. It is far from useless and can be a high-yield investment for you. Take advantage of the opportunities available today when it comes to investing in Bitcoin and other cryptocurrencies.