Mark Cuban says he's bullish on crypto, comparing industry growth to the early days of the Internet
Billionaire investor Mark Cuban of Shark Tank says he remains bullish on crypto despite the ongoing bear market.
In a new interview with Forbes, Cuban compared the cryptocurrency industry to the early days of release in the 1990s, when today's ubiquitous technology was difficult to use and abandoned by the average consumer. through the.
The entrepreneur points out that it takes the average consumer about 20 years to see streaming as normal.
“ With crypto, it's very similar to that. We are in the early stages of 'trouble'. The oldest cryptocurrency, however you want to decide the beginning, with Bitcoin or whatever, is about 12 years old. But in terms of apps with smart contracts, that's just 2017 for the most part. So we've only really been five years.
So I'm still very bullish on cryptocurrencies. We've had some early wins, such as audio streaming with sports and news. Now with crypto, you have DeFi and money transfers and some other apps, but you still don't have any of the main apps your mom likes, 'Okay, we have to get the wallet because I have to do A either B or C. This is DeFi, NFT (non-fungible token), and money transfer. And so it's very boring right now. We are waiting for the next batch of applications and many people are working on it.”
Cuban points out that the Internet also faltered between 1995 and 2007 when the first iPhone was released. Then mobile apps exploded and the Internet expanded to a host of new features.
The billionaire said that he is looking to invest in crypto projects that will lead the mainstream of the sector.
Oct 05, 2022