TL;DR Breakdown
• The businessman thinks that Bitcoin is the new digital gold.
• Mark Cuban could adopt several cryptocurrencies in the next few days.
The cryptocurrency market marked a new milestone during the week, considering that Bitcoin led to a new historical maximum in its price, trading at $65000. BTC had a rise in its price due to the ETFs.
Even though this new record caught entrepreneurs’ attention, Mark Cuban prefers not to invest in Bitcoin Futures ETF this time. According to Cuban, the ETFs ended successfully, but it is much better to invest in BTC directly.
Bitcoin Exchange Traded Funds: What are they?
The funds traded on BITO would correspond to the first of many Bitcoin ETFs linked to the US stock market under the order of the Securities and Exchange Commission. This fund opens the possibility for enthusiasts to buy Bitcoin without the need to have a crypto wallet. It differs greatly from buying Bitcoin futures than buying Bitcoin directly from a crypto wallet.
These futures would be a form of financial proceeds summarized as agreements with their price from another token. BTC Futures are agreements for purchasing Bitcoin in an eventually fixed section and not tokens stored with the risk of making or losing money due to their volatility in prices.
Among these fans who get the BTC Futures deals is Mark Cuban, the Dallas Mavericks NBA team owner. After getting in and out of this latest BTC futures trading fund, Cuban said he prefers to buy the token and have it in his crypto wallet.
Mark Cuban, who by May said his crypto wallet was filled to over 60 percent in Bitcoin, thinks these ETF offerings are tempting, but there’s nothing better than investing.
Mark Cuban believes that Bitcoin has a great trading future
Mark Cuban does not stop admiring cryptocurrencies, especially Bitcoin, which is his preferred token. According to the businessman, Bitcoin has an advantage over other cryptos because of its current price and investment opportunities.
Cuban clarifies that Bitcoin has no competition as storage crypto; according to his opinions, the token has an algorithmic limit. This causes Bitcoin to have a low supply per pattern. Based on this, Cuban believes that the more demand for crypto increases, the greater its commercial value.
Mark Cuban has also repeatedly said that Bitcoin is the new gold, even better than storing gold for the profits it offers. However, the entrepreneur is not limited to appreciating the purchasing value of other cryptos such as Ethereum, which trades today at $3,987. Cuban hopes that people who do not like cryptocurrencies understand that regulations cannot stop this new financial model.
