Billionaire Mark Cuban Says Retail Buyers Need Revenge And Bitcoin Will Not Be A Foreign money In A New Interview. Listed here are the 14 greatest quotes. | Foreign money Information | Monetary and enterprise information
- Billionaire Mark Cuban discussed the stock market bubble, Wall Street bets and Bitcoin.
- The “Shark Tank” star also highlighted the power of AI, digital assets and stimulus checks.
- Cuban compared the blockchain industry to the beginnings of the internet.
- You can find more stories on the homepage of Business Insiders.
Tech billionaire Mark Cuban accused the Federal Reserve of driving up asset prices, offered revenge on retail investors, and discussed the value of Bitcoin in a RealVision interview published this week.
The Shark Tank investor and owner of Dallas Mavericks also explained why Amazon and Netflix are its largest holdings, promoting ownership of digital goods as a tool against inequality and calling for more government incentives.
Here are the 14 best Kuban quotes from the discussion, slightly edited and condensed for clarity:
1. “This is more of a Fed-driven bubble than anything else.” – Highlight that interest rates were 4% or 5% during the dot-com bubble so people could save their money and get a risk-free return, while interest rates close to zero today drove investors into stocks.
2. “It doesn’t invest and it almost doesn’t even act, it’s more like revenge. It’s the nerd’s revenge. It’s the little guy’s revenge.” – Explanation of the impulses behind the meme stick rush.
3. “The biggest threat isn’t so much the banks. It’s liquidity, as we’ve seen at Robinhood, and it’s the SEC that we don’t know what they’re going to do about.” – Highlighting the barriers to common investors banding together to disrupt Wall Street.
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4. “It’s like the early days of the internet. Nobody really knows what it will be. There is still a long way to go and there will be a lot of companies that don’t work. But they will.” Get some, oh my god, winner. “- on the prospects for the blockchain industry.
5. “Disruptors are going to win. We just don’t know which disruptors are going to win or exactly how they are going to win, but they are going to win. They always do. I don’t see a horse or buggies, I don’t see any CD makers doing it really well.” ”
6. “Bitcoin will not be a currency. It will not be a hedge against fiat and will print too many fiat dollars. It is a store of value that will increase in value because it is scarce.”
7. “Bitcoin is a reserve asset, just like gold is viewed as a reserve asset. When the world goes to hell in a hand basket, no one walks around with a gold bar because someone bigger is just going to pound you in the ass and get your gold bar. But they’ll still be hungry. When I have a banana, you give me your gold bar. “
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8. “My crypto allocation has been building up over the years and I’ve never sold it. I recently exchanged some for Aave. I don’t want to trade in and out. I’m not a day trader at all, it just takes too much work . “
9. “There are a couple of these I’ve bought that say, ‘OK, I’m going to put $ 10,000 in just shit and giggle,’ but I’m not going to tell you which they are because I don’t . ‘I don’t want to be yelled at. “- Discussion of the cryptocurrencies he owns.
10. “My two biggest holdings are Amazon and Netflix, and have been for years. And the reason I stick with them is their AI skills. Unless you’re a great AI company, I’m not interested in one to be a great investor. “
11. “Break it open, I don’t care. It will create more shareholder value.” – on the dismantling of “big tech” companies due to monopoly concerns.
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12. “Until you allow people to accumulate digital assets of any kind, they will always have their belongings.”
13. “If you were able to borrow less than 1%, invest in the American people, and make over 1% returns, traditional investors would tell you that is pretty good.” – Explain why the US government should send out more stimulus checks.
14. “I’m not a fan of the Universal Basic Income, but I’m a fan of sharing what America, Inc. does.”