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A look into Mark Cuban’s evolving beliefs about Bitcoin & crypto assets

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“The store of value generation” is what entrepreneur Mark Cuban termed young crypto investors as. In a blog explaining this narrative, the billionaire today seemed to caution older generations and Wall Street stalwarts. He stated why the idea “that a crypto asset could be a store of value” is not “crazy.”

Old Schoolers say that you need to have something “tangible” in order for there to be value and we will deal with fraud after the fact. The New Generation…has known their entire lives that what has been of greatest value to them has been digital .

According to Cuban, a stock was also a “digital store of value” and further said:

They also know that the more they work together , the less power Wall Street has. They know that fat and happy Wall Street has become slow, stale and set in their ways.

Cuban believed that Bitcoin “having a decade-plus long history of transactions and wealth generation’’ was a store of value. Young investors don’t find it any different in getting advice from peers on social media hubs or from an influencer speaking on mainstream media. He believed that the modern investors know how a smart contract and the digital asset it reflects “are a better investment than the old school narrative of “STFU” or see, touch or feel uses. 

Cuban’s opinions are in stark contrast to gold advocate Peter Schiff’s who has often criticized Bitcoin as a bubble and a Pyramid scheme. In a recent tweet he implied that the investors in the digital were actually falling for a “Bitcoin scheme.

Mark Cuban’s evolving beliefs about crypto assets, Bitcoin in particular began in 2019 when Cuban referred to the asset as a collectible. At the time, he gave Bitcoin “no chance” of becoming a reliable currency. However, he recently claimed that as long as people accepted Bitcoin “as a digital version of gold,” it was investable. He still maintained that such assets “are rarely used as currency” such as Bitcoin, Ether and “tokens” that “support DeFi.”

Source: https://ambcrypto.com/a-look-into-mark-cubans-evolving-beliefs-about-bitcoin-crypto-assets/

Amb Crypto

Miami Mayor dismisses Treasury Secretary Yellen’s criticism of Bitcoin

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Over the past few weeks and months, Miami and Mayor Francis Suarez have been working towards positioning the city as the country’s premier crypto-hub. “We want to be one of the most crypto-forward and technological cities in the country,” Suarez had said in a recent interview, with the comments coming on the back of reports […] Source: https://ambcrypto.com/miami-mayor-dismisses-treasury-secretary-yellens-criticism-of-bitcoin/

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FD7 Ventures launches $250M Micro-Fund in India for Cardano, Polkadot-based projects

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A few days after FD7 Ventures, a Dubai-based crypto-investment fund, made news after it announced its decision to sell its Bitcoin holdings worth $750M to buy more Cardano and Polkadot, the fund is in the headlines again. According to a press release, FD7 Ventures has now launched a $250M Micro-Fund in India to invest in […] Source: https://ambcrypto.com/fd7-ventures-launches-250m-micro-fund-in-india-for-cardano-polkadot-based-projects/

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Why Mark Cuban is looking forward to Ethereum’s use cases

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Entrepreneur Mark Cuban is in awe of Ethereum network and thinks that blockchain technology could be a game-changer for various industries. In a recent interview, Cuban said that it is the “simplification of smart contracts” on Ethereum that gets him “excited.” He said: Because now, all these SaaS companies, all these different companies, I could […] Source: https://ambcrypto.com/why-mark-cuban-is-looking-forward-to-ethereums-use-cases/

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Amb Crypto

Litecoin, EOS, Enjin Coin Price Analysis: 01 March

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Litecoin seemed positioned for additional losses after the long-term moving average closed in on the short-term line. EOS moved within a descending channel after finding support at $3.5. Lastly, ENJ went past a key resistance and saw its price rise on the charts. Litecoin [LTC] Losses in the last seven days amounted to over 25% […] Source: https://ambcrypto.com/litecoin-eos-ftx-token-price-analysis-01-march/

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