Billionaire Mark Cuban says the Dallas Mavericks will accept Bitcoin

0
254

NBA’s Dallas Mavericks Will Accept Bitcoin For Tickets, Mark Cuban Promises.

NBA’s Dallas Mavericks Will Accept Bitcoin For Tickets, Mark Cuban Promises.
NBA’s Dallas Mavericks Will Accept Bitcoin For Tickets, Mark Cuban Promises.

Mark Cuban, billionaire tech investor and owner of the NBA team The Dallas Mavericks tweetedon Tuesday, Jan. 16 that starting next season, it will be possible to buy tickets to the team’s games with Bitcoin.

The Dallas Mavericks won’t be the first basketball team to start accepting Bitcoin as payment for tickets. The Sacramento Kings officially started accepting Bitcoin for promotional products as well as for tickets as far back as 2014.

Cuban is a prominent figure in the cryptocurrency industry. He is famous for not only investing in a digital currency hedge fund and an ICO but also launching the Ethereum-based cryptocurrency Mercury Protocol in August 2017.

Cuban’s view on cryptocurrency and Blockchain has changed multiple times over the course of 2017 — he joined the voices calling the world’s leading virtual currency “a bubble” in June, but by October was claiming cryptocurrencies and Blockchain are the future.

In addition, Cuban included a tip to invest 10% of your life savings in Bitcoin in his video guide on ‘how to get rich’.

“If you’re a true adventurer and you really want to throw the Hail Mary, you might take 10 percent and put it in Bitcoin or Ethereum,” Cuban noted in the video.

While the cryptocurrency market is undergoing a difficult period, the fact that billionaire investors like Cuban, Thiel and Zuckerberg recognize the prospects of Bitcoin is a sign of potential future growth.

Investor and entrepreneur Mark Cuban has upped his cryptocurrency advocacy, telling Vanity Fair readers to put 10 percent of their money into it.

In a video guide on “getting rich,” Cuban produced nine tips on maximizing potential wealth long-term.

Among them in fifth place was advice to “invest up to 10 percent of savings” in so-called “high risk” assets, specifically Bitcoin and Ethereum.

“If you’re a true adventurer and you really want to throw the Hail Mary, you might take 10 percent and put it in Bitcoin or Ethereum,” he said.

“But if you do that, you’ve got to pretend you’ve already lost your money.”

“Many endowments, pension funds, etc allocate three to five percent of their portfolio to venture capital. They know (it’s) a risky asset but it has the potential for outsized returns.”

Cuban’s own perspective on Bitcoin has undergone a metamorphosis this year. Despite considering its price as a bubble, the billionaire subsequently invested in both an ICO and a dedicated cryptocurrency hedge fund.

While some skepticism remains, Cuban’s 10 percent figure is still higher than that advised by fellow investor Fred Wilson, who last week suggested a maximum of three to five percent crypto holdings for the “average” investor.

“I think that’s likely at the high end of what the average person should have, but I also think it’s not a ridiculous number for the average person to have,” he said discussing the topic.

Read more: How to Buy Bitcoin: Best Practices, Where to Buy, Tips