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Billionaire Mark Cuban: Bitcoin is a safe haven, but Ethereum is the future

Tuesday, 19 October 2021

The star of the popular show about business and finance, Shark Tank, believes that Bitcoin's options are limited, so it will give way to smart contract platforms and DAPPs. Until investors need a safe haven. Mark Cuban tweeted that Bitcoin is unrivaled as a store of value.

I like Eth/L2s more, and there is no point arguing the Trilemma, halving or inflation. I like it more because I can see an unlimited number of applications that will change the biz/consumer world forever. And to use them you need to buy Eth/L2. BTC doesn't have that demand pull
— Mark Cuban (@mcuban) October 17, 2021

Still, Cuban recognizes the prospects for the Ethereum smart contract platform and second-level solutions. "I like Eth/L2s more, and there is no point arguing the Trilemma, halving or inflation. I like it more because I can see an unlimited number of applications that will change the biz/consumer world forever. And to use them you need to buy Eth/L2. BTC doesn't have that demand pull."

According to Cuban, Bitcoin benefits from the fact that smart contract platforms compete to attract DeFi and users. When they lose, investors leave these platforms and invest in more reliable cryptocurrencies.

"That will also be a HUGE WIN for BTC. When multi-billion $ Blockchains become near inactive, a lot of people will see BTC and Eth as safe havens, and the more conservative crypto play will be BTC. The SOV play will accelerate its value. It will be the safe haven of crypto,"
says Cuban

Billionaire Barry Sternlicht is confident that Bitcoin can protect savings from inflation. However, it also supports Ethereum. According to him, it is "programmable Bitcoin" with a huge number of applications. He holds both assets in his investment portfolio.

Analysts at JPMorgan argue that the rise in the price of BTC is driven by institutional investors' investment in Bitcoin to guard against inflation. Soros Fund Management CEO Dawn Fitzpatrick said the fund owns Bitcoins and is investing in Bitcoin-focused platform NYDIG and Lukka, which offers asset management solutions.