Mark Cuban is satisfied that the following main funding craze might have little to do with Bitcoin or blockchain.
The billionaire entrepreneur took to X to foretell that chips as an asset class would be the new crypto.
Cuban refers back to the high-end GPUs used to energy synthetic intelligence.
In accordance with the extremely influential billionaire, who rose to prominence on the peak of the dot-com bubble, computing {hardware} might develop into an investable asset class in its personal proper.
Laptop chips are usually considered as depreciating tools, however the speedy progress of AI has begun to problem that assumption.
That stated, there was a swift pushback from the cryptocurrency group. Bitcoin advocate Pierre Rochard responded that chip manufacturing has neither Bitcoin’s issue adjustment nor its halving mechanism. Others have joked that Cuban’s assertion was an indication of a late bear market backside.
Cuban’s altering views on Bitcoin
The billionaire was as soon as one among Bitcoin’s extra distinguished American skeptics.
In 2019, he in contrast Bitcoin with collectibles and famously stated he would somewhat personal bananas as a result of that they had sensible utility. He did, nevertheless, acknowledge that Bitcoin might doubtlessly operate as a retailer of worth.
Later, he warmed as much as crypto. Cuban turned significantly passionate about Ethereum due to sensible contracts and their skill to assist decentralized functions. He argued that Ethereum’s utility gave it a bonus over Bitcoin.
Cuban repeatedly opined that he considered Bitcoin equally to gold (as a secure haven asset).
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In Could, nevertheless, Cuban revealed that he had bought most of his BTC holdings to the chagrin of the cryptocurrency group. His predominant grievance was that the flagship cryptocurrency, which he initially harshly criticised, had didn’t behave as a viable macro hedge.
“I believe Bitcoin has misplaced the plot,” Cuban stated throughout a latest interview.
Throughout the aforementioned interview, Cuban claimed that he considered BTC as a superior model of gold. Nevertheless, he shortly turned disenchanted after the cryptocurrency severely underperformed.