Just recently Bitcoin.com reported on the significant influx of mainstream attention bitcoin has been receiving over the past few months. Lots of investors these days are shining a positive light on the decentralized cryptocurrency and some of them have changed their opinions held in the past.
Also read: Bitcoin Experiences an Intense Flow of New Money and Mainstream Attention
Billionaire Entrepreneur and Shark Tank Star Changes His Opinion Towards Bitcoin
This week the billionaire tycoon Mark Cuban changed his tune towards bitcoin as the entrepreneur gave bitcoin a thumbs up to his 7.1 million Twitter followers. Cuban is a well-known U.S. businessman who owns the NBA team the Dallas Mavericks and is invested in many popular companies such as Magnolia Pictures, Dropbox, and AXS Television. Furthermore, the billionaire investor is also one of the hosts of the show “Shark Tank” featured on NBC.
A few years ago back in 2014 Cuban told the publication Entrepreneur.com that he had not invested in bitcoin. “Nope, I haven’t invested in Bitcoin yet — I go up and down on it,” explained Cuban on the set of Shark Tank. Later on that year Cuban told the news outlet USA Today he did believe bitcoin was “great as an encryption technology,” but thought the future of bitcoin’s value was dismal. The investor explained that central banks will not allow the technology to grow as a currency.
“As a transport mechanism, an accounting digital transport mechanism, it’s unique and has a great opportunity in the future,” Cuban detailed to the publication at the 2014 SXSW conference.
I think it’s got no shot as a long-term digital currency.
Cuban Now Tells His 7 Million Twitter Fans He Follows Bitcoin News and They Should Too
However Cuban told the press that he was still undecided about the technology and his stance against it wasn’t set in stone. When asked if he would ever consider adding bitcoin to his portfolio Cuban stated, “The jury’s still out — We’ll have to wait and see.”
Now it seems times have changed and Cuban may have come to a conclusion concerning bitcoin. On June 6 as the price of BTC surpassed $2900 across global exchanges Cuban told his 7.1 million Twitter followers;
However, following his tweet Cuban does detail that he thinks bitcoin could be in a bubble. “I think it’s in a bubble — I just don’t know when or how much it corrects,” details the investor. “I think blockchain is very valuable and will be at the core of most transactions in the future. Healthcare, finance, etc all will use it,” Cuban adds.
I’m not questioning value — I’m questioning valuation
Big Name Investors and Socialites are Telling Their Followers About Bitcoin
As bitcoin continues to grow more valuable mainstream media and many well-known investors are bolstering bitcoin more often. Just recently John Bollinger, the inventor of the financial analysis indicator Bollinger Bands, mentioned bitcoin to his 11,000 Twitter followers. Alongside this, the professional poker player and socialite, Dan Bilzerian, explained to his 22 million Instagram followers that he just invested in a “sh*tload” of bitcoin last week. Moreover, Mark Cuban is not the only NBA team owner interested in bitcoin as the owner of the Golden State Warriors, Chamath Palihapitiya, told his 67,000 Twitter followers that the cryptocurrency was the “ultimate insurance policy against autocracy.”
What do you think about Mark Cuban telling his Twitter fans to follow bitcoin news? Let us know in the comments below.
Images via Pixabay, Shark Tank, and Twitter.
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