Billionaire Mark Cuban says he’s a longtime cryptocurrency investor despite his sharp critique of crypto assets.
In a new tweetstorm, the entrepreneur says he’s far more well-informed on cryptocurrency than some might think.
“I don’t think people realize I try to test and use all this stuff and have for years. I still have crypto from the early days of Coinbase. I’ve never sold anything.”
Cuban says he’s also tracking the growing decentralized finance (DeFi) movement.
In just under a year, total value locked in DeFi protocols surged from $900 million in February of last year to $20.6 billion today.
Amid the meteoric rise, Cuban warns the space faces the same risk of collapse as the traditional derivatives market.
“Just remember WITH DeFi, as with all derivatives, the RISK NEVER LEAVES THE SYSTEM. One segment collapses, they all face risk of collapse.”
Cuban is also doubling down on his point that Bitcoin’s scarcity is the key selling point for