The Cryptos News | Daily Bitcoin News
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading
The Cryptos News | Daily Bitcoin News
No Result
View All Result
Home Investment

What One Tech Guru Thinks of the Current Crypto Market | The Motley Fool

What One Tech Guru Thinks of the Current Crypto Market | The Motley Fool
Share on FacebookShare on Twitter


Crypto is struggling, but one high profile investor thinks there is more to it.

Mark Cuban has become renowned for his successful venture capitalist career in the early 2000s. He invested in some of the first social networks and software to come around and has since seen his net worth climb to nearly $4.7 billion.

Since he’s no stranger to innovative technologies, it comes as no surprise that Cuban has been a vocal advocate for what cryptocurrency and blockchain technology has to offer. He made headlines in 2021 when his National Basketball Association basketball team, the Dallas Mavericks, said it would accept Dogecoin for merchandise and tickets.

Cuban is more than just a fan of Dogecoin. He considers himself an Ethereum maximalist, which means he believes in Ethereum more than other blockchains. He has also made plenty of purchases in the NFT (non-fungible token) market. 

While his investments, like many others, are worth considerably less than just a year ago, Cuban remains optimistic about the direction crypto is headed. 

Cuban’s thoughts

Despite the recent pullbacks and talk about a crypto winter, Cuban believes this decline in prices is healthy and necessary to weed out weak competitors in the crypto economy. In a recent interview he said that the recent bull market fostered an environment for companies that didn’t actually have “valid business prospects” to stick around longer than they should have. He made reference to a famous Warren Buffet quote that seems fitting, “When the tide goes out, you get to see who is swimming naked.”

Given current macroeconomic factors like inflation, rising interest rates, and the slowing economy, it makes sense that the blockchains and cryptocurrencies that have failed to provide any real-world value would suffer the most. 

In addition, events in the crypto market that have recently transpired have only added to the less-than-ideal macroeconomic factors. When the Terra blockchain imploded in early May as the result of its UST stablecoin losing its peg to $1, it caused a widespread market sell-off. 

And just last week, one of the most popular crypto lending platforms, Celsius, announced that it would halt withdrawals as the result of the poor economic conditions. This announcement sent all cryptocurrencies down even more. 

Yet despite all of this, Cuban still thinks there is hope and value for crypto over the long haul. Specifically, he believes bear markets force companies to innovate. Cuban elaborated, saying, “Disruptive applications and technology released during a bear market, whether stocks or crypto or any business, will always find a market and succeed.”

A final thought

Mark Cuban has seen his fair share of bear markets. It seems that in his opinion bear markets should be a cause for concern but not a cause for hysteria.

Bear markets create opportunities for blockchains and investors alike. Cryptocurrencies that continue to develop innovations in a bear market position themselves for long-term success. 





Read More:What One Tech Guru Thinks of the Current Crypto Market | The Motley Fool

Tags: cryptoCurrentFoolGuruMarketMotleyTechthinks
Previous Post

The Crypto Kings Aren’t Sorry

Next Post

Ethereum Merge Delay? Developers Concerned Over Shadow Fork

Related Posts

Buying Bitcoin on the Dip? 3 Things the Smartest Investors Know About Crypto | The Motley

Buying Bitcoin on the Dip? 3 Things the Smartest Investors Know About Crypto | The Motley

by The Cryptos News
July 30, 2022
0

In the world of crypto, "buy the dip" is such a popular investment strategy that it has become an...

Study up and become a more informed crypto investor with this bundle

Study up and become a more informed crypto investor with this bundle

by The Cryptos News
July 30, 2022
0

The 2022 Advanced Cryptocurrency Trading Bundle.TL;DR: As of July 30, you can get The 2022 Advanced Cryptocurrency Trading Bundle...

Crypto Exchange KuCoin Launches NFT ETFs By Benzinga

Crypto Exchange KuCoin Launches NFT ETFs By Benzinga

by The Cryptos News
July 30, 2022
0

© Reuters. Crypto Exchange KuCoin Launches NFT ETFs Cryptocurrency exchange KuCoin announced on Friday the launch of NFT exchange-traded...

Is It Right Time To Invest In Crypto Market? Crypto Expert Shares Bullish Indicator

Is It Right Time To Invest In Crypto Market? Crypto Expert Shares Bullish Indicator

by The Cryptos News
July 29, 2022
0

Famed crypto analyst and creator of the stock-to-flow model PlanB, has expressed that the current market carnage is what...

Next Post
Ethereum Merge Delay? Developers Concerned Over Shadow Fork

Ethereum Merge Delay? Developers Concerned Over Shadow Fork

Subscribe
Login
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Trending News

Payperless Crypto Wallet announced working on NFT tokens support

Payperless Crypto Wallet announced working on NFT tokens support

June 25, 2022
June’s Red-Hot Inflation Report Rattled Bitcoin and Ethereum Prices. What That Means for

June’s Red-Hot Inflation Report Rattled Bitcoin and Ethereum Prices. What That Means for

July 14, 2022
Ripple’s Counsel Urges US Lawmakers to Urgently Pass ‘Sensible’ Crypto Legislation Amid

Ripple’s Counsel Urges US Lawmakers to Urgently Pass ‘Sensible’ Crypto Legislation Amid

July 30, 2022
ADVERTISEMENT

Investment

Buying Bitcoin on the Dip? 3 Things the Smartest Investors Know About Crypto | The Motley

Buying Bitcoin on the Dip? 3 Things the Smartest Investors Know About Crypto | The Motley

July 30, 2022
Study up and become a more informed crypto investor with this bundle

Study up and become a more informed crypto investor with this bundle

July 30, 2022
Crypto Exchange KuCoin Launches NFT ETFs By Benzinga

Crypto Exchange KuCoin Launches NFT ETFs By Benzinga

July 30, 2022
Is It Right Time To Invest In Crypto Market? Crypto Expert Shares Bullish Indicator

Is It Right Time To Invest In Crypto Market? Crypto Expert Shares Bullish Indicator

July 29, 2022
$ETH-Based Investment Products Leading Bounce-Back in July, Says CryptoCompare Research

$ETH-Based Investment Products Leading Bounce-Back in July, Says CryptoCompare Research

July 29, 2022

Prices

Latest Report Shows Cryptojacking Increased By 30% During The Crypto Slump

Latest Report Shows Cryptojacking Increased By 30% During The Crypto Slump

July 30, 2022
Tron price prediction as Unifi Protocol TVL explodes

Tron price prediction as Unifi Protocol TVL explodes

July 30, 2022
Bitcoin and Ethereum Prices Are As High As They’ve Been Since June Crypto Crash, But

Bitcoin and Ethereum Prices Are As High As They’ve Been Since June Crypto Crash, But

July 30, 2022

Crypto Flipsider News – Crypto Market Rally; Nirvana (NIRV) Exploited; Vasil Delayed;

July 29, 2022

Trading

CoinFLEX: Amid liquidity crisis, the cryptocurrency exchange had this to say

CoinFLEX: Amid liquidity crisis, the cryptocurrency exchange had this to say

July 30, 2022
SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms –

SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms –

July 30, 2022
Analysis | Why the Crypto World Flinches When the SEC Calls Coins Securities

Analysis | Why the Crypto World Flinches When the SEC Calls Coins Securities

July 29, 2022
FTX wins full approval to operate crypto exchange in Dubai

FTX wins full approval to operate crypto exchange in Dubai

July 29, 2022
Crypto exchange Zipmex files for bankruptcy protection in Singapore

Crypto exchange Zipmex files for bankruptcy protection in Singapore

July 29, 2022
  • About Us
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA

© 2021 Thecryptosnews.com

No Result
View All Result
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading

© 2021 Thecryptosnews.com

wpDiscuz