Mark Cuban is not feeling the bitcoin love — and he is not afraid to tell Twitter all about it. The opinionated billionaire had a bitcoin warning for his millions of followers this week:
“I think it’s in a bubble. I just don’t know when or how much it corrects. When everyone is bragging about how easy they are making $ = bubble.”
And the price of bitcoin responded — a little. The digital currency’s price had already dropped 0.86 percent before Cuban got to Tweeting, but it did manage to stay near the $2,900 mark.
Soon after the Cuban tweets, the price of the volatile cryptocurrency drifted further down to a little over $2,700 per bitcoin.
We’d love to be your preferred source for news.
Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!
All in all, however, it has been a good year for bitcoin — which is up 200 percent and gaining ground. But Cuban remains not persuaded.
“Anyone anywhere can buy a stock. #crypto is like gold. More religion than asset. Except, of course, gold makes nice jewelry. #crypto notsomuch”
Advertisement: Scroll to Continue
Cuban went on to note, in response to the angry tweets of many bitcoiners:
“I’m not questioning value. I’m questioning valuation.”
Cuban has long taken something of a dim view of cyrptocurrency — he recently told USA Today that bitcoin has “no shot as a long-term digital currency.”
He did, however, note it might be an investment asset under the right circumstance.
Add as Preferred Source
