When it comes to Mark Cuban’s favorite cryptocurrencies like Bitcoin, Dogecoin, and Ethereum, this same billionaire has said that he believes Bitcoin is the best store of value. Meanwhile, dogecoin is better as a payment medium. Ethereum is at risk of being overtaken by other blockchains if it does not quickly incorporate its switch to proof-of-stake.
When asked about Bitcoin’s place in wealth preservation, Cuban said, “I think it’s the best asset.”
As the billionaire previously declared in an interview earlier this week, he will not be investing in a Bitcoin ET. It is because holding the cryptocurrency itself made more sense to him.
💡 Dogecoin Better Than Bitcoin
Compared to other cryptocurrencies, he claimed that DOGE offers the finest learning opportunity for newbies to the crypto community. This is because it is inexpensive and simple to purchase.
Meanwhile, Cuban, appears to have expressed worries about it. He noted that the network would still have to figure out its planned shift to proof-of-stake.
According to him, the network’s delay in launching the “difficulty bomb” that would eventually render Ethereum proof-of-work miners unprofitable remained a mystery. This is because other rival blockchains are threatening to destabilize them if it doesn’t push through.
This is a reaffirmation of his previous position on Bitcoin and DOGE. To borrow a phrase from Elon Musk, Cuban believes Dogecoin is the ideal form of payment.
The Dallas Mavericks, owned by Mark Cuban, are a rare breed in that they take Dogecoin as payment. In March, the Dallas Mavericks immediately took the meme coin as payment for merchandise and tickets.
Dogecoin’s supply is limitless, hence it has a high level of liquidity. It is an inflationary currency because of the addition of $5 billion in new tokens each year. However, the idea is that the new tokens make it possible to use the system as money.
To begin with, the introduction of new tokens each year provides miners with an incentive to keep processing transactions and collecting rewards.
Bitcoin, on the other hand, will stop releasing tokens in 2140, therefore miners will have no reason to keep on mining.