Mark Cuban has been accused of trying to use his power to turn the community from Bitcoin. Some well-known cryptocurrency entity personalities believe that the tycoon stakeholder has some stake in overpowering the cost of the first digital bills.
The allegations come after a video in which Cuban argues that ‘Bitcoin is nothing more than a collectible,’ just like a baseball postcard or even smooth art. He departed on to add that cryptocurrency lack essential value, and one could not enjoy it for its aesthetic features as one might do on an exchange card.
Another skepticism he raises about Bitcoin is it is too baffling for the average being. This is, however, sarcastic because it is precisely the kind of dose people used against the internet its early times, disagreeing that email would never catch on because the user knowledge was still difficult. Cuban, of course, made the most of its wealth from the sale of Broadcast.com to Yahoo.
The investor, according to Forbes showed up in the anti-Bitcoin clip in October current year. Moreover, it attracted a fresh wave of ire coming from the proponents of Bitcoin; it has begun to circulate on social media platforms.
Cuban not always been rejected vehemently to Bitcoin’s idea. As chosen by Twitter user Nik @nikcantmine, the billionaire previously endorsed the digital asset stating to people that they should invest in it close to 2017 December. In addition, his own NBA team, by the name Dallas Mavericks is the only professional sports club in the world to accept earnings in crypto assets. At last, Cuban publicly gave backup for ICO for its Sports project in the year 2017.
The double standards led to Bitcoin proponent’s questioning the motives of Cuban. John Carvalho, who is the chief commercial officer at Bit refill, took to twitter earlier today that it looked certain that Cuban’s flip-flop on Bitcoin stands for an effort to put potential businesspersons off the digital money. The idea for this, per Carvalho, is individual enrichment, either coming from his investments or payments from another willing third party.
Giving an alternative perception is attorney Preston Byrne. He hopes that Cuban’s anti-Bitcoin sentiments were because of disagreement about what makes the cryptocurrency so valuable to some people.
Cuban, who is an American billionaire, has an existence so privileged compared with many people on Earth. He has access to modern banking and does not live in a country where he risks getting up to find his net worth’s buying power cut by a significant percentage on every day. The executive is, therefore, poorly positioned to see the success of Bitcoin.