Mark Cuban believes that BTC is better than gold, and CoinShares explained the recent drop in the bitcoin rate
Mark Cuban: BTC is better than gold
American entrepreneur Mark Cuban is confident that the first cryptocurrency is an excellent hedging asset and “gold 2.0”. He wrote about this on his Twitter page.
“It’s better than gold. No worries about storing it. Easy to transfer. Easy to trade. Easy to convert. Doesn’t require an intermediary, ” the billionaire said.
Cuban believes that in the future, the demand for gold will fall. A simple and straightforward BTC transfer process will allow investors to appreciate the benefits of cryptocurrency in the future. The billionaire wrote that the value of bitcoin “is determined solely by the balance of supply and demand.”
CoinShares found a rationale for the recent drop in bitcoin
CoinShares considers the recent drop in BTC to be a normal correction of the crypto market, which has allowed us to weed out traders who are prone to panic. This was stated by the head of development of the company Meltem Demirors.
Demirors is sure that after the long-term growth of the crypto market, its further decline is quite normal, since the value of any asset cannot grow all the time. And now, traders who fear serious financial risks are getting rid of their crypto assets.
“Bitcoin has always been a volatile asset. I wouldn’t be surprised if he goes back to $20,000. In March last year, 1 BTC was worth only $3,000. Its volatility should always be taken into account,” the CoinShares’ head of development said.
Dogecoin co-founder acquires cryptocurrency again despite the promise not to do it
A few years ago, one of the founders of the Dogecoin project, Billy Markus, made a promise not to invest in cryptocurrencies. However, he recently re-invested in digital assets.
Markus acquired DOGE. At the same time, he preferred not to disclose the volume of investments.
“I bought dogecoin after 8 years of vowing never to buy crypto again, an hour ago. I have checked the price 7 times so far since then. I was up 10% and now it’s back to up 3%. Anyway, this seems healthy,” Markus wrote on Twitter.
