Mark Cuban, billionaire, business tycoon, and socialite, is known for his bold opinions and followed by many. On his Twitter account, Cuban announces to his 8.4 million followers that Ethereum is going to be the cryptocurrency that would eventually conquer the business front. Cuban has had an interesting history with Bitcoin and other digital assets. Before this year, he could be found saying that Bitcoin is not a sustainable investment opportunity.
However, now the Dallas Maverick owner has changed his stance on cryptocurrency and even started several crypto-centric projects. Last month, the Dallas Maverick management announced that they were going to accept Dogecoin as payment for tickets. For this purpose, the professional basketball team collaborated with digital wallet service, Bitpay.
What Makes Mark Cuban Think that Ethereum can go Beyond all Expectations?
Mark Cuban recent tweets about Ethereum could help the silver cryptocurrency reach new heights and score new goals. He attributed the potent potential of Ethereum to the introduction of the ETH smart contracts. A new update called London fork has been launched on the blockchain last month that would burn the excess coins and lower the gas fees. Cuban was referring to this update which, in his opinion, would open new technological doors for Ethereum.
Pointing to the capabilities of the smart contract of the silver cryptocurrency, Cuban remarked that it would attract many tech projects and institutional developing companies to work with the blockchain. He opines that as the smart contracts functionalities are explored, explained, and communicated; the silver cryptocurrency would experience a game-changing environment. He also endorsed the ambition of blockchain to shift to the proof-of-stake consensus.
Is Bitcoin Going to Leave Behind?
While Ethereum scored a new ATH of $4000 yesterday, Bitcoin dipped backed to the low price range of $55K. In terms of daily trade volumes, Bitcoin has been consistently behind Ethereum. Many crypto analysts are anticipating Flappening, a hypothetical phenomenon when Ethereum would take over Bitcoin. It seems that Mark Cuban has an unlikely opinion about Bitcoin.
He claims that Bitcoin layer two applications are not non-existent. However, it is more suited as a store of value in comparison to other cryptocurrencies. The billionaire investors advocate that working on Layer 2 paths for Ethereum is much easier than Bitcoin. He also added that smart chain is a very organic and native built-in utility for Ethereum, which would allow the developers to create new value and opportunities without a lot of hassle.