Category: Mark Cuban

Mark Cuban Won’t Invest in Bitcoin ETF, Prefers to Buy BTC Directly

Mark Cuban Won’t Invest in Bitcoin ETF, Prefers to Buy BTC Directly

The owner of the NBA team Dallas Mavericks, Mark Cuban, has said “no” to investing in bitcoin-based exchange-traded funds (ETFs), one of which could start trading next week in the U.S. The Shark Tank star does not see a reason for him to invest in a bitcoin ETF, emphasizing that he can buy the cryptocurrency directly.
Mark Cuban Says No to Bitcoin ETF
The Shark Tank star and owner of the NBA team Dallas Mavericks, Mark Cuban, has shared his thoughts on the heavily hyped bitcoin exchange-traded funds (ETFs). While the U.S. Securities and Exchange Commission (SEC) has yet to approve a bitcoin ETF, the first bitcoin futures ETF could begin trading in the country as early as next week.
However, Cuban is not planning to invest in a bitcoin ETF or a bitcoin futures ETF when one starts trading on an American exchange. Responding to a question in an interview with CNBC, published Friday, whether he plans to invest in any bitcoin-based ETF, the shark tank star bluntly replied:
No. I can buy BTC directly.
Cuban has been in the crypto space for quite some time. He previously called bitcoin “better gold than gold” due to its algorithmic scarcity, seeing the cryptocurrency as a store of value rather than a currency. He said in April:
That’s why I own bitcoin and why I never sold it.
The owner of the Dallas Mavericks also previously revealed that he had invested in ether (ETH), dogecoin (DOGE), non-fungible tokens (NFTs), and a number of blockchain companies. He and Tesla CEO Elon Musk see dogecoin as the “strongest” cryptocurrency for payments.
As for cryptocurrency regulation, Cuban believes that the rules are unclear and has publicly criticized the SEC for taking an enforcement-centric approach to regulating the crypto industry. “The problem isn’t that people are looking for grey areas, it’s that there rarely are defined rules. Regulation through litigation traps all the people who can’t afford a lawyer, accountant, or advisor,” he opined.

While futures-based bitcoin ETFs provide investors with some exposure to the crypto market without actually owning any coins, Todd Rosenbluth, director of ETF and mutual fund research at CFRA, explained:
The ETF price will not match the price of bitcoin. As such, it is likely better for short-term exposure than for buy and hold long-term investing.
What do you think about Mark Cuban’s comments? Let us know in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Dogecoin loses 70% against Bitcoin during 6 months of celebrity DOGE endorsements

Dogecoin loses 70% against Bitcoin during 6 months of celebrity DOGE endorsements

Dogecoin (DOGE) may have landed major proponent Mark Cuban in hot water as it hits its lowest against Bitcoin (BTC) in over half a year.DOGE/BTC 1-week candle chart (Bittrex). Source: TradingView”Now price it in bananas”Data from Cointelegraph Markets Pro and TradingView showed DOGE/BTC trailing at 412 satoshis (0.00000412 BTC) on Oct. 14 — down from highs of 1,284 satoshis (0.00001284 BTC) in April.As Bitcoin outpaces altcoins en masse this month, the pain has been especially intense for Dogecoin investors after months of public campaigning by both Cuban and others, including the world’s richest man, Elon Musk.Nothing has been able to reverse the meme-based cryptocurrency’s fortunes, however, and now, frustrated commentators are even demanding an explanation.Cuban was in line for retribution this week, with podcast host Preston Pysh suggesting that his touting of Dogecoin on U.S. national television at the highs had been — to say the least — misguided.Cuban Coin, measured in BTC…since promoting it to the world on Ellen. @mcuban pic.twitter.com/8LQAECwsmk— Preston Pysh (@PrestonPysh) October 13, 2021Fellow pundit Peter McCormack joined calls for Cuban to comment on the situation against the latter’s backdrop of criticism of Bitcoin.Twitter users further evoked Cuban’s claim that he would rather own bananas than BTC, poking fun at Dogecoin’s declining purchasing power when measured in the fruit.In August, Cuban stated that he owned less than $500 of DOGE.Has the DOGE had its day?Musk, meanwhile, has moved on to incorporate Dogecoin spin-off cryptocurrencies in his publicity efforts, these likewise seeing huge gains on the back of even the most innocuous comments.Related: Elon Musk’s Tesla is already $1 billion in profit from holding BitcoinOne such coin, Shiba Inu (SHIB), has since seen substantial selling from large-volume investors known as whales.The Tesla CEO did not escape the wrath of Bitcoiners earlier this year, however, with his Dogecoin activities being met with claims of investor manipulation.As Cointelegraph reported, altcoins are tipped for a renaissance once Bitcoin hits its cycle top, this currently slated for the beginning of 2022.

Billionaires are backing Bitcoin over gold … but some say Ethereum is even better

Billionaires are backing Bitcoin over gold … but some say Ethereum is even better

Following JPMorgan CEO Jamie Dimon’s recent comments that Bitcoin is worthless, two well known billionaires have leapt to its defense — although both of them say Ether has some even more desirable properties.During an interview with CNBC’s Squawk Box on Oct. 13, Barry Sternlicht, the co-founder of Starwood Capital Group said that gold was actually “worthless” and he is hodling Bitcoin (BTC) because every government in the “western hemisphere” is printing endless amounts of money.Sternlicht is estimated to have a net worth of around $4.4 billion and is known for his investments in the real estate market via Starwood Capital Group. The investment firm was founded in 1991 and reportedly has around $95 billion worth of assets under management (AUM).Sternlicht was asked for his take on Jamie Dimon’s reiterated skepticism over BTC being “worthless.”“Gold is kind of worthless too, and so is silver, I mean they have some industrial uses but they are minor. The reason I own Bitcoin is because the U.S. government and every government in the western hemisphere is printing money now to the end of time,” he said.Dallas Mavericks owner Mark Cuban, who has a net worth of $4.3B, echoed similar sentiments when he spoke to CNBC Make IT on Wednesday. Cuban said that BTC is “better than gold,” before going on to say that he thinks Ethereum has the “most upside” as an investment.Despite favoring BTC over gold, Sternlicht also went on to qualify his support for Bitcoin with praise for Ethereum.“Bitcoin is a dumb coin, it has no real purpose other than a store of value, and it’s crazily volatile. So Ether, I own some of that, it’s a programmable Bitcoin and there are tons of other coins that are built on that system.”“I’ve become very interested in blockchain technology as a whole, and the digital ledger which is going to change everything, we’re probably in inning one,” he added.Related: Billionaire Bill Miller advocates for Bitcoin, but doubtful on altcoinsNot every billionaire is on board the crypto train however. Larry Fink the chairman of the world’s largest asset manager BlackRock ($9.4 trillion AUM) stated that he’s “probably more on the Jamie Dimon camp.””I’m not a student of Bitcoin and where it’s going to go so I can’t tell you whether it’s going to $80K or $0. But I do believe there is a huge role for a digitized currency,” he said.

Movie Giant AMC Bringing Real-World Use Case to Dogecoin

Movie Giant AMC Bringing Real-World Use Case to Dogecoin

Movie theater chain AMC says consumers can now purchase gift cards in crypto and use them at their venues.
AMC chief executive officer Adam Aron tells his 187,000 Twitter followers that moviegoers can now load up gift cards with $200 worth of Dogecoin (DOGE) and other cryptocurrencies per day to use online and in physical stores.
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Billionaire Mark Cuban Says Consumers Prefer Paying in Dogecoin Rather Than Bitcoin – Here’s Why

Billionaire Mark Cuban Says Consumers Prefer Paying in Dogecoin Rather Than Bitcoin – Here’s Why

Famed billionaire Mark Cuban says that consumers are favoring Dogecoin (DOGE) over Bitcoin (BTC) in terms of making payments.
In a new interview with Fox Business, the business tycoon says that customers at his venues are paying in Dogecoin rather than BTC because Bitcoin is an asset that tends to gain value quickly.
“Not a lot of people pay in Bitcoin because it’s really an appreciable asset. It’s a stored value and they want it to go up in value, so you won’t see people pay in it. But a lot of people pay in Dogecoin.”
Cuban, who owns the Dallas Mavericks professional basketball team, says that fans prefer using Dogecoin to purchase tickets and merchandise over BTC, even though the ball club accepts both types of crypto as payment on its website. Cuban says he foresees this trend continuing into the upcoming NBA season.
“We sell thousands and thousands of dollars per month during the offseason, and once the season starts, I expect that to happen per week in DOGE. And that’s really because it’s easy to spend and it doesn’t appreciate so much that people want to hold it forever.”
Cuban had previously made remarks praising Dogecoin as the “strongest” cryptocurrency on the market for making payments.
DOGE is exchanging hands at $0.24 at time of writing while BTC is trading at $53,822, according to CoinGecko.
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SEC vs Coinbase: Alex Mashinsky says Celsius will have to 'wait and see' on fallout

SEC vs Coinbase: Alex Mashinsky says Celsius will have to 'wait and see' on fallout

Support for Coinbase and its CEO, Brian Armstrong, has been pouring from the crypto community since the company disclosed in a regulatory filing on Wednesday that it had received a Wells notice from the U.S. Securities Exchange Commission. The regulator has threatened to sue the exchange over its proposed Lend program, which would offer 4% interest on customer holdings of the USDC stablecoin. Company CEO Brian Armstrong took to Twitter on Sept. 8 to vent his dismay over the lack of clarity from the regulator as to why it believes the product is a security. Rival platforms Celsius and BlockFi offer similar products.Speaking to Yahoo! Finance on Sept. 8, Celsius Network co-founder and CEO Alex Mashinsky said that everyone in the crypto industry was looking for clarity:“I think we’re going through these murky waters right now and we need to get clarity and its going to take a little bit of time before we get the rules and we can start running faster.”Mashinsky told Cointelegraph that Coinbase already provides yields on crypto assets such as Ether so the SEC seems to have a particular issue with offering interest on USDC stablecoin deposits.“The SEC claims yield on USDC may be a security if paid to non-accredited investors. Coinbase did not ask permission for all assets only for USDC.”Celsius, which has more than $20 billion in assets under management also pays yields on USDC and other stablecoins to non-accredited investors. However Mashinsky said Celsius had pioneered the area and its products “took a long time to perfect … it helps being the first to figure things out.” When questioned about whether this mean Celsius would be able to successfully navigate similar regulatory scrutiny to Coinbase, he replied:“Everyone has to wait and see what the SEC will issue as regulation. Looks like Coinbase wants to take the SEC to court like XRP and prove they went beyond their charter.”Billionaire investor and Dallas Mavericks owner Mark Cuban took to Twitter on Sept. 9 advising Armstrong and Coinbase to “go on the offensive”, labeling the move as “regulation via litigation.”Brian, this is “Regulation via Litigation”. They aren’t capable of working through this themselves and are afraid of making mistakes in doing so. They they leave it to the lawyers. Just the people you don’t want impacting the new technologies. You have to go on the offensive— Mark Cuban (@mcuban) September 8, 2021In a later tweet, he stated that by suing, the SEC “gets to play on their home court to regulate it”, adding that it could change how DeFi works but also see it grow. Cuban urged Coinbase to be aggressive in its response to the threat of legal action for the greater good of the rest of the industry.“It’s better for the industry that they take on the SEC rather than the SEC go after a small decentralized entity and get a quick judgment that becomes the law of the land for DeFi.”Related: Crypto is too big to exist outside of public policies, warns SEC chairEconomics author Frances Coppola explained she believes that under the law if interest is charged or levied on token lending then these “loan agreements” are considered securities.Really very simple, Brian. You can lend out your tokens for free, and other people can lend out your tokens for free. But if you, or they, charge interest on lending tokens, or profit in any other way from lending tokens, they are securities. https://t.co/kTMxNwmMkB— (((Frances ‘Cassandra’ Coppola))) (@Frances_Coppola) September 8, 2021

Bloomberg took the view that SEC Chair Gary Gensler has just sent a warning shot to other crypto companies offering similar products in one of its most aggressive recent moves against the industry.

Mark Cuban's Dallas Mavericks offer cashback rewards on Dogecoin purchases

Mark Cuban's Dallas Mavericks offer cashback rewards on Dogecoin purchases

Dallas Mavericks, Mark Cuban’s NBA franchise, started a cashback rewards program to incentivize merchandise and ticket payments in Dogecoin (DOGE). The rewards program is dubbed “Mavs Cryptomania,” and customers who spend more than $150 worth of Dogecoin in one transaction will receive a $25 e-gift card that they can use for online purchases in the Dallas Mavs shop. The program is slated to finish on September 30. At the time of writing, users will need to outlay 505 Doge in order to receive the e-gift card. The Mavs started accepting DOGE for payments back in March and were also one of the first NBA franchises to accept Bitcoin (BTC) payments for tickets and merchandise back in 2019. Cuban is a major Dogecoin proponent and stated in April that while the coin started as a joke, it is “becoming a digital currency” due to its increasing adoption rate. The billionaire investor stated in May that Dogecoin had outperformed other crypto assets in terms of merchandise purchases, as he noted that “we sell more Mavs merchandise for DOGE on a typical day […] than we did in a year with BTC or ETH.”Cuban has become a prominent figure in crypto and blockchain tech in 2021 and has backed various crypto and blockchain projects such as Ethereum-based scaling solution Polygon, NFT protocol Alethea AI and NFT marketplace providers Genius, to name a few. The Mavs owner recently fired back in response to Donald Trump’s latest FUD in which he suggested that Bitcoin and cryptocurrencies were a “disaster waiting to happen.”Related: Doge meme hits $220M valuation, as Sotheby’s Bored Apes auction is tipped to fetch $18MSenior NBA analyst Bill Ingram stated on Sept. 2 that “I’m not one to agree with the former president on much of anything, but I have long wondered whether we really need another form of currency that only has a pretend value because some group of people decides to pretend it does.” Cuban responded by urging Ingram to not think of crypto assets as “currencies,” as he emphasized the underlying tech that drives the sector: “Think of them as decentralized, secure, networked platforms with features that allow for the development of apps that can have unique utility for individuals and businesses.”

NBA’s Dallas Mavericks’ Shop to Give Rewards to Customers Paying With Dogecoin and Other Cryptos

NBA’s Dallas Mavericks’ Shop to Give Rewards to Customers Paying With Dogecoin and Other Cryptos

The professional basketball team owned by the billionaire Mark Cuban, the Dallas Mavericks, announced “Mavs Cryptomania,” which gives Dallasmavs.shop customers a $25 e-gift card if they pay with cryptocurrencies like bitcoin, ethereum, bitcoin cash, and dogecoin. The Mav’s owner has been a big proponent of crypto assets and the Mav’s was the first NBA team to accept dogecoin for tickets and merchandise.
Dallasmavs.shop Customers Paying With Crypto Will Get a Gift Card Reward
Mark Cuban, Shark Tank star and the owner of the NBA basketball team the Dallas Mavericks is a big believer in crypto assets. More specifically, Cuban and Tesla’s Elon Musk think dogecoin (DOGE) is the ”strongest” cryptocurrency for payments. Cuban told his Twitter followers that the Mav’s were hodling DOGE after sales, and he even told the popular Talk show host Ellen Degeneres to get into dogecoin. When speaking about hodling dogecoin, Cuban said:
FYI, the Mavs sales in dogecoin have increased 550pct over the past month. We have now sold more than 122k Doge in merchandise. We will never sell 1 single Doge ever. So keep buying Dallasmavs.shop.
The web portal Dallasmavs.shop uses the crypto payment processor Bitpay to accept payments in crypto and the shop accepts BTC, BCH, ETH, USDC, GUSD, PAX, BUSD, and DOGE. Now the Dallasmavs.shop has announced “Mavs Cryptomania,” which will give customers who pay for items in crypto a reward.

$25 Gift Card for Crypto Purchases, Cuban Believes People Miss the Point of Dogecoin
The Dallasmavs.shop rewards give users a “free $25 e-gift card for purchases made with eligible cryptocurrency on Dallasmavs.shop. [Customers] must spend [a] minimum of $150 (before tax and shipping.) Only one e-gift card per transaction,” the website says. The reward promotion is valid from August 13, 2021, through September 30, 2021.

I don’t prefer doge over btc. They are completely different. But to say DOGE doesn’t have a place is wrong
— Mark Cuban (@mcuban) August 15, 2021

The website says the e-gift card will be emailed between “5-7 business days after order is placed” and the card expires at the end of the year. Two weeks ago Cuban spoke about the benefits of DOGE and why observers miss out on when they see the crypto asset’s “imperfections.”
“The point about DOGE that people miss is that DOGE’s imperfections and simplicity are its greatest strengths,” Cuban said at the time. “You can only use it to do [two] things: Spend It or HODL It. Both are easy to understand. And it’s cheap to buy. Which makes it a community anyone can join and enjoy,” the billionaire investor added. However, Intothecryptoverse.com’s Benjamin Cowen disagreed with Cuban’s statement.
“You could replace ‘DOGE’ with basically any other altcoin and the argument stays the same. Meaning it’s a somewhat weak argument,” Cowen replied to Cuban. “The strong argument for DOGE is just that people with influence promote it, which is at least something to consider,” Cowen added.
What do you think about the Mavs giving rewards to crypto spenders who shop at the online store? Do you agree with Mark Cuban about the crypto asset dogecoin? Let us know what you think about this subject in the comments section below.

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BCH, Bitcoin, bitcoin cash, BitPay, BTC, Dallas Mavericks, Dallasmavs.shop, Dallasmavs.shop Crypto, Doge, dogecoin, Ellen DeGeneres, Elon Musk, ETH, Ethereum, Mark Cuban, Mavs Owner, nba team, Shark Tank Star, Stablecoins, Tesla CEO

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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