Cryptocurrencies as an investment have grown to be one of the most well-known in the financial world. It is no longer reserved for small, individual investors that invest only a few hundred dollars at a time in cryptocurrencies. Given the opportunities available, high net worth individuals such as billionaires and institutional investors are flocking into the industry.
Mark Cuban, the owner of the Dallas Mavericks and a huge proponent of cryptocurrencies, has revealed that he has a sizable investment in the space. Any investments that are not linked to those featured on the show are highly biased towards the crypto business for the Shark Tank investor.
Billionaire Mark Cuban appeared on an episode of “The Problem With Jon Stewart” to discuss investments and where his biggest moves are being made. The Shark Tank investor told host Jon Stewart that, while he has invested extensively in ideas that have arisen from the show, his investments outside of the show have been focused on cryptocurrency.
The decentralization of these digital assets is the most important push for Cuban. This is why, according to the millionaire, 80 percent of investments that are not made on Shark Tank are done in or around cryptocurrency.
Cuban’s advocacy for cryptocurrency acceptance has been visible in his activities. Under his guidance, the Dallas Mavericks began to accept crypto payments, and this option has since been expanded to include even more crypto-assets such as Dogecoin.
Cuban talked up to Stewart about the areas of the crypto industry in which he is interested. One that has the billionaire’s entire attention is decentralized autonomous groups (DAOs). This relatively new space has made significant progress as a totally decentralized system. Essentially, no single person or entity may change them without the permission of all of its members.
The billionaire revealed that when it comes to investing in cryptocurrencies and related items, he is particularly interested in DAOs. It is becoming more popular as more businesses adopt this strategy.
“There are no centralized systems on which to rely,” Cuban stated. “Every token holder in that application has the opportunity to influence the network’s direction, not necessarily equally, but usually equally.” “This is where I’d like to invest,” he continued.
Cuban also has a stake in NFTs. According to his Lazy portfolio, he has NFTs from the well-known Bored Ape Yacht Club, as well as a CryptoPunk. He also has stakes in bitcoin and ethereum, as well as Dogecoin. However, his holding in the latter is very small, considering that the billionaire believes the meme coin is an excellent payment method and entry point into the broader crypto market.