Billionaire investor and Shark Tank host Mark Cuban said Ethereum is the "best" cryptocurrency investment. Despite his support for Dogecoin and Bitcoin, Cuban called ETH the closest "true currency."
In his interview with Cnbc Make It, Cuban explained the strengths and weaknesses of Ethereum, Dogecoin and Bitcoin. He noted that despite the crypto market explosion this year, not all digital coins grew as equal assets.
Ethereum the Best Investment
For reference, Ethereum uses code stored on the blockchain called smart contract. This lets two parties exchange money quickly and securely without a middleman. Because of its utility, non-fungible tokens (NFTs) and decentralized finance (DeFi) rely on smart contracts to process their payments.
Cuban sees this as an opportunity for long-term growth. He said Ethereum blockchain "really changed everything" on the crypto space, which led Cuban to conclude that "Ethereum has the most upside."
Cuban also said, "I wish I had bought (ETH) sooner... I think it's the closest we have to a true currency."
Dogecoin Is Fun and Educational
Another cryptocurrency discussed in the interview is the fan favorite Dogecoin. Although Doge started as a joke, the meme coin soared in market value in the last few years and even gained recognition as one of the top 10 currencies by market value, per Cnbc.
Cuban called Dogecoin a fun and educational way of learning cryptocurrencies. He recommended it for investors starting in the cryptocurrency space.
It is worth noting that last week, Cuban even hinted Dogecoin being better than Bitcoin. This is because his basketball team, the Dallas Mavericks, "sell thousands and thousands of dollars per month" through Dogecoin than Bitcoin payments.
Cuban said Dogecoin is the best medium for the acquisition of goods and services. Dogecoin made people want to spend it in the market.
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Bitcoin the 'Better Gold'
Lastly, Cuban mentioned his thoughts on Bitcoin, the biggest cryptocurrency. He called Bitcoin "better gold than gold." To clarify, Cuban associated Bitcoin with the gold markets and its appreciable asset value.
This meant Bitcoin investors were inclined to earn and hold on to their Bitcoins. Investors would rather try to make profits out of these coins than spend it on the market. Cuban admitted Bitcoin is even better than gold due to its algorithmic scarcity and the limited amount by design. However, due to its nature, it could be a lot slower in growth than Ethereum.
Mark Cuban Sees Massive Surge for ETH Value
Cuban did not elaborate on the time frame for his ETH market prediction. He simply emphasized it would be the best crypto coin out of the three choices in the long run.
It is worth noting that Ethereum has multiplied its price by nearly five times this year. The rate of its sporadic growth could be a testament to Cuban's ETH prediction.
At the time of writing, CoinDesk recorded Ethereum at $3,825.46, with a 5.56 percent growth in the last 24 hours. This signifies a huge recovery from its losses in the last month.
