Mark Cuban: “Bitcoin will become a global reserve asset due to political instability”
Date: 2024-07-18 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
Famous investor and billionaire Mark Cuban shared his thoughts on the future of Bitcoin, predicting its growth and transformation into a global reserve asset. Cuban notes that the weakening of US geopolitical dominance and growing instability in the world may create conditions for such a development of events.
Mark Cuban expressed concern about the weakening of US geopolitical dominance, which, in his opinion, will provoke increased instability in the world. He stressed that such changes could have serious economic consequences.
“Bitcoin has the potential to become a global reserve asset due to increased global instability and inflationary pressures,” Cuban said.
Cuban also noted that possible tax cuts promised by former US President Donald Trump could lead to an increase in the price of Bitcoin. This statement is based on the assumption that tax cuts encourage investment in alternative assets, including cryptocurrencies.
Bitcoin as a hedge against hyperinflation
The billionaire pointed out that in countries experiencing hyperinflation, Bitcoin has already established itself as a “safe haven.” In such states, Bitcoin is actively used to save savings from the depreciation of national currencies. This highlights the potential of cryptocurrency as a reliable asset in times of economic uncertainty.
Cuban suggested that in the event of a significant deterioration in geopolitical and economic conditions, the role of Bitcoin could increase even more. He believes that in the face of increasing inflationary pressure and instability, the first cryptocurrency could become a global reserve asset. At the same time, the investor did not specify how much the Bitcoin rate would increase in this case.
Criticism of politicians
Previously, Mark Cuban expressed skepticism about the knowledge of current President Joe Biden and former President Donald Trump in the field of cryptography. He said that digital assets are being featured on candidates' platforms only to win the upcoming elections in the fall of 2024, which indicates a superficial approach to this important topic.
Mark Cuban sees Bitcoin's potential to become a global reserve asset amid growing political and economic instability. His opinion emphasizes the importance of cryptocurrencies as a reliable means of protection against inflation and geopolitical risks. Investors should closely monitor developments to take advantage of opportunities that may arise amid global changes.
