With his continued optimism, American billionaire businessman Mark Cuban claims that he really prefers investing in Bitcoin over gold. The TV celebrity indicated that if the price of bitcoin decreases, he will purchase more of it. In a talk with American comedian and television talk host Bill Maher, Mark Cuban stated, “I want Bitcoin to sink a lot farther so I can purchase even more.”
In spite of increased regulatory oversight from the US government, the cornerstone cryptocurrency has experienced a healthy jump to $24,655.94, a number not seen in more than six months. The price of the currency is presently over $24,500, up well over 10% from the previous day.
Mark Cuban and Many Prominent Figures Exclaim that Owning Gold is not Effective Enough Compared to Owning Bitcoin
The Dallas Mavericks star of “Shark Tank” also disparaged gold owners, saying, “If you’ve got gold, you’re as foolish as bread.” In contrast, Maher asserted that gold “is like a hedge against everything else.” Mark Cuban also said that wealth is not protected by gold in times of crisis. “You don’t own bullion, and what would happen if everything went to hell and you owned silver? The crypto advocate said that someone would kill you or beat you up before stealing your gold.
During the past 24 hours, traders who made bets against the cryptocurrency market have lost more than $200 million as major cryptocurrencies rose in one of the most remarkable rallies in about a year.
Cryptocurrency Surge is at its End
According to CoinGlass, short positions in Bitcoin futures have been liquidated for $84.7 million, while short positions in Ethereum futures have been liquidated for more than $52 million. According to Jim Wyckoff, senior technical analyst at Kitco, as bitcoin rose, “the bulls have reversed a transitory downturn on the daily bar chart and steadied prices,” and “the bulls and bears are back on the same technical playing field in the near term.”
Although the cryptocurrency markets were on edge earlier this week owing to increasing regulatory scrutiny of digital currencies by US authorities, the current surge seems to be calming down a bit.
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