Billionaire Mark Cuban, owner of the Dallas Mavericks, likened the current decline of crypto to that of the Internet in the early 2000s. He said the digital asset industry will flourish when businesses start using smart contracts.
Crypto Follows the Internet’s Path
The crypto market is bearish. Bitcoin and Ethereum lost 15% in a week.
Mark Cuban likened this decline to the technological collapse of 2000. Most tech firms were not making a profit, but Amazon and E-bay have survived these challenges. It is now among the largest companies in the world. The internet has managed to penetrate our entire lives.
Cuban said smart contracts are more important than digital collections.
“We need smart contract apps.“
Cuban’s Crypto Visions
Cuban has not always advocated cyrpto. In 2020, he said that banana trading is more advantageous than crypto. He later abandoned this idea.
The NBA team accepts a variety of cryptocurrencies, including Bitcoin, Ether, and Dogecoin as a means of payment for game tickets and merchandise.
Cuban’s favorite is Ethereum. The billionaire spoke highly of Ethereum.