Mark Cuban Predicts Chips Will Replace Crypto, Despite Troubled Track Record
Mark Cuban has made another bold prediction about the cryptocurrency market, claiming that 'chips as an asset class will be the new crypto.' This statement came after a seven-year streak of incorrect predictions about crypto prices, including a 2019 interview where he said Bitcoin had 'no chance' of becoming a reliable currency. The price of BTC has since rallied by 670%.
Cuban's record on crypto is marred with mistakes and controversy. He promoted an Iron Finance yield farm mere days before it imploded, invested in Voyager Digital despite its alleged Ponzi scheme, and lost $870,000 to a phishing attack due to his own carelessness.
In May, Cuban claimed he had sold '98% of a BTC position once worth hundreds of millions,' but this claim was disputed by the current market price of Bitcoin. Despite his track record, Cuban remains optimistic about chips as an asset class and believes they will outperform crypto.