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Mark Cuban schools gold bug Peter Schiff, calls the yellow metal “dead”

Published 03/04/2021, 05:23 PM
Updated 03/04/2021, 05:30 PM
Mark Cuban schools gold bug Peter Schiff, calls the yellow metal “dead”

Shark Tank star and American billionaire investor, Mark Cuban, has taken to the streets of Twitter to tackle the ever-vocal gold bug, Peter Schiff.

Replying to a tweet from Schiff accusing early Bitcoin investors of pumping and dumping the digital asset, Cuban said that gold is a dying store of value compared to emerging technologies like Bitcoin and Ethereum.

Schiff took a swipe at Wall Street investors calling them “dumb enough” to buy into Bitcoin and the crypto frenzy. Cuban, on the other hand, was willing to explain the charm behind the emerging crypto craze. Cuban wrote:

What we are seeing built with crypto today is just proof of concept. As tech continues to get better/cheaper/faster there will be new applications and maybe even something that supersedes what we know as crypto today. But Gold won't ever change.

While Cuban may not be as vocal as Musk or Michael Saylor of MicroStrategy, the billionaire appears to be a firm believer in Bitcoin and Ethereum. As reported by BTC PEERS, Cuban acknowledged that the crypto industry might turn out to be a bubble, but Bitcoin and Ethereum would likely survive.

Continue reading on BTC Peers

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Latest comments

Gold away been money and always be money. The price is not relevant.
When you peddle gold coins for a living, one would assume that the person peddling has their own best interest at heart and any new competition that undermines will be downplayed.
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