Mark Cuban: Ethereum price has a lot more room to run after logging massive gains in 2021
Although Bitcoin price has increased to $58,000, the market is excited but not all cryptocurrencies and assets are equal. When asked which cryptocurrency he would recommend for beginners or new investors in the space, Cuban suggested and set high expectations for Ethereum price.
Billionaire Mark Cuban
Mark Cuban: Ethereum price has the most upside as a crypto investment
“As an investment, I think Ethereum has the most upside”, Cuban tells CNBC Make It. And Bitcoin is better gold than gold.
Then, to learn about crypto and how the space’s affluent communities could impact the market, Cuban suggested the meme-inspired DOGE. Earlier this year, Dogecoin became one of the top 10 currencies by market value, partly due to influence from the DOGE community and its supporters. Cuban also recommends Dogecoin for fun, he said.
However, it’s important to remember that financial experts generally consider cryptocurrency risky, volatile and speculative, and they warn that investors should only invest what they can afford to lose.
Cuban has an extensive crypto portfolio, which includes digital coins such as Bitcoin, Ethereum, Dogecoin and other altcoins; NFTs, or nonfungible tokens; and many blockchain companies. This is not the first time Cuba has touted ETH, BTC and DOGE.
In fact, “I wish I had bought Ethereum sooner”, Cuban said. That’s partly because “I think it’s the closest we have to a true currency.”
Cuban has also repeatedly called Bitcoin a better alternative to gold due to its algorithmic scarcity, as only a limited number of them exist by design. And though DOGE was originally created as a joke, Cuban sees a unique use case for it.
“It’s a medium that can be used for the acquisition of goods and services,” he previously told CNBC Make It. “The community for doge is the strongest when it comes to using it as a medium of exchange.”
Ethereum price has vastly outperformed Bitcoin this year, up more than 379% since the start of 2021.
- Anonymous Crypto Whales And Major Exchanges Have Wired A Whopping 214,861 ETH
- Ethereum Non-Exchange Whales Now Hold Over 5x More ETH Than Crypto Whales On Exchanges