American billionaire and owner of Dallas Mavericks, and a widely recognized face on the popular Shark Tank reality TV show, Mark Cuban, has shared his thoughts on the crypto industry again. This time, Cuban says that Ethereum, in the nearest future, could rival its forerunner, Bitcoin, as a viable store of value. He made this statement in a recent interview with Defiant.
The Mavericks owner mentioned the fact that the recent innovations and developments being made in decentralized finance coupled with the advancements in open-source blockchain would count in favor of ETH to replace Bitcoin as a viable store of value. He, however, was quick to praise the leading crypto asset for evolving into its current stage where it is seen and used as a store of value by investors. Cuban highlighted that he does not regard the digital asset as a currency though.
According to Cuban, the development of a “friction-free banking” through the use of smart contracts is a major spring in the step for Ethereum and for this reason, it is poised to replace Bitcoin, at some point, as a store of value. He further went on to add that if the market waves should change presently, he is more likely to throw his weight behind the second largest crypto asset by market cap than BTC.
While the billionaire stance on the crypto industry has been largely positive, he has, however, been quoted to have called the price spikes of Bitcoin a bubble. Not only that, in another interview, he has likened the general crypto industry to the early stage of the internet and believes that Bitcoin, Ethereum and some other altcoins would be able to pull their weight. Another thing worthy to note is that he admits that blockchain and Bitcoin, holds limitless potential to change the world.