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Mark Cuban Says Gold And Bitcoin Are Equally Useless - Part 1
“I hate gold. Gold is a religion,” Mark Cuban, owner of the Dallas Mavericks, told Kitco News in an exclusive interview at the Three Sharks In A Castle Symposium. “I do not see it as an alternative to currency.”
Cuban said that while there may be some fundamental value to gold, “everything else is a collectible,” he said, adding that gold and bitcoin are the “same thing.”
According to Cuban, both bitcoin and gold derive their value from supply and demand.
“The good news about bitcoin is that there’s a finite supply, and the bad news about gold is that they’ll keep mining more” he said.
Cuban noted that retail investors would do well to clear their personal debt first in order to avoid interest expenses.
“The best investment you can make is paying off your credit cards, paying off whatever debt you have,” he said. “If you have a student loan with a 7% interest rate, if you pay off that loan, you’re making 7%, that’s your immediate return, which is a lot safer than picking a stock, or trying to pick real estate, or whatever it may be.” (show less)
“I hate gold. Gold is a religion,” Mark Cuban, owner of the Dallas Mavericks, told Kitco News in an exclusive interview at the Three Sharks In A Castle Symposium. “I do not see it as an alternative to currency.”
Cuban said that while there may be some fundamental value to gold, “everything else is a collectible,” he said, adding that gold and bitcoin are the “same thing.”
According to Cuban, both bitcoin and gold derive their value from supply and demand. ... (read more)
Daniela Cambone
Editor-in-Chief
Three Sharks In a Castle
Hosted by Shark Tank star Kevin O’Leary, the symposium at the newly renovated Casa Loma in Toronto, featured fellow Shark Tank investors, Mark Cuban and Barbara Corcoran as keynote guests. This is the first time the three have shared the stage in Canada.
Biography
With over a decade of international experience, Daniela Cambone covers prominent industry events and interviews a number of leading analysts, financiers and political leaders for Kitco News. She began her career covering the Canadian financial and insurance industry and later worked in Europe covering the political and financial scene for the International television station, Press TV. Daniela holds a BA in Broadcast Journalism and an MA in Journalism & Communications.Disclaimer: The content on this website, including, without limitation, news, videos, interviews and commentaries, is provided by Kitco Metals Inc. ("Kitco") for informational purposes only and is not intended as any form of advice, whether legal, accounting, investment, financial or tax advice. Therefore, it cannot be relied upon as such. Should you require such advice, contact a licensed professional. The content provided herein is provided on an "as is" basis without any warranty of any kind, whether express or implied and your use of the information provided in said content is entirely at your own risk. In no event will Kitco be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content on this website.
