Jump on the r / Wallstreetbets subreddit for one Ask me something session recently, Dallas Mavericks owner Mark Cuban shared his take on GameStop shorts, general investing and various crypto-related topics. The billionaire said “the game is changing” when it comes to stocks, but encouraged the Redditors to take a look at Bitcoin (BTCinvestors for guidance.
“BTC HODLers are a good example to follow”, said Cuban. “Many bought at the highest prices in 2017 and saw it fall 2/3 or more. But they held on because they believed in possession. The same goes for stocks. When I buy a stock, I make sure I know why I’m buying it. Then I HODL until I learn something has changed. “
A Bitcoiner himself, Cuban said its crypto portfolio includes Aave (LEND), SushiSwap (SUSHI), Ether (ETH), BTC and Litecoin (LTC). Last week, crypto sleuths were able to find at least two wallets connected with Cuban with over 1000 ETH, staked out Aave and SUSHI. When they found out, Cuban allowed he had his “share of s — coins.”
The Dallas Mavericks owner continued say he believed that decentralized finance and non-replaceable tokens have the potential to explode in the next decade, “but there will be many ups and downs along the way.” Besides, the billionaire said the infrastructure around investments can even change:
“Shares will be on the blockchain in the future, which will make the markets much more efficient, transparent and available to the retail investor.”
Cuban spoke more actively about crypto last winter as the Bitcoin bull run kicked off and many media outlets began reporting more frequently about the ecosystem. Earlier this month, he has compared crypto markets to the dot-com bubble of the late 90s and even said he would consider a presidential run when the price of Bitcoin reaches $ 1 million.
However, many of the billionaire’s views on crypto are in line with industry participants. Cuban has referred to Bitcoin as a store of value like gold, and recently featured Redditors in the r / Wallstreetbets community have more control over investments than the “slow” and “stale” practices of Wall Street investors.
“I think social investors have the opportunity to change stocks the way social was used to build crypto,” said Cuban on the Reddit AMA.