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Billionaire Mark Cuban Warming Up To Bitcoin

Saturday 27th, September 2014 / 15:06
Billionaire Mark Cuban Warming Up To Bitcoin

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In the past, billionaire investor and owner of the Dallas Mavericks, Mark Cuban, has been hard on Bitcoin telling USA Today in a taped interview last March that he had doubts about its viability and questioned whether it was even a currency.

…no one that I’ve seen so far that’s in traditional sales that is taking Bitcoin keeps it as Bitcoin. They all translate it to dollars. And if you translate it into dollars, it’s not a currency.

He went on to say that Bitcoin had “no shot as a long-term digital currency.” Well, now, apparently the tide is turning. The billionaire investor isn’t putting his cash into Bitcoin just yet, but there are clear signs that he’s beginning to soften his stance on the digital commodity.

radarToday, in an article published by Entrepreneur.com, Cuban hinted that he’s taking another look at the digital currency saying that he hasn’t invested yet, but Bitcoin is on his radar.

“Nope, I haven’t invested in Bitcoin yet,” Cuban told Entrepreneur.com on the set of Shark Tank. “I go up and down on it. We’ll have to wait and see.”

Based on these most recent statements, it seems Cuban is slowly warming up to the digital currency.

Bitcoin is a decentralized payment system created by Satoshi Nakamoto in 2008 and introduced as open-source software in 2009. Payments are recorded in a public ledger using its own unit of account, which is also called a Bitcoin.

Nakamoto disappeared in late 2009 with over 1 million bitcoins that he had mined while maintaining the lion’s share of the network hashrate.

Is Mark Cuban on the verge of investing in Bitcoin? Will he become the maverick of digital currencies?  Log in below using your favorite social network to weigh in on the discussion.

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