The Holy Grail is a utility of cryptocurrencies, says Mark Cuban

  • Billionaire investor Mark Cuban has claimed that encrypted profit is the most important part of any cryptocurrency project..
  • He also defended Dogecoin, saying it is «good to spend.»

Cuban shark billionaire shark investor Mark Cuban endorsed cryptocurrencies again. Specifically, it focused on utility projects, and one of its favorite digital currencies – Dogecoing (DOGE).

In a tweet Tuesday, the Dallas Mavericks owner said that the use case of crypto projects is the most important thing during an investment. Here, he gave examples of the convenience of smart contracts, collectors, and Decentralized Autonomous Organizations. He added that «token trading is the least important of cryptocurrencies.»

Being able to build business on decentralized platforms that leverage smart contracts, validation, OCCs, and more, creates a unique ability to deliver more efficient business processes and disrupt industries.

Cuban utility generates value – Cuba

Her tweet came in response to a tweet criticizing cryptocurrencies as worthless currencies and praising companies for creating “stuff” and adding value to the economy.

“Crypto is just about exchanging currency and expecting someone else to pay more for that currency later. It’s only value because people believe there’s value, not because something’s done better, «read the tweet.

Speaking on CNBC’s Make It show, Cuba echoed the same sentiments, saying:

Always look for utility, that’s where value is created ”, previously suggesting that“ smart contracts can change the world ”

This is not the first time the cryptocurrency and blockchain investor has highlighted use cases as the most important aspect of cryptocurrency projects. In November 2021, when Ethereum set a new high of $ 4,634, Cuba expressed its support for it, saying it stands out for its usefulness. He even called himself «Ethereum maxi», saying that the network has smart contract functionality and is the most widely used blockchain. In February, he recommended ETH as a better value store than Bitcoin.

Dogecoin is best spent

Also in an earlier tweet on Tuesday, Cuba as Tesla CEO Elon Musk noted DOGE ‘s dominance in spending compared to other cryptocurrencies. This came after a brief encrypted show on Twitter with Pennsylvania-based businessman and podcaster Preston Pysh. The podcaster noted that DOGE is down 80.24 percent from its all-time high in May despite a positive Cuban assessment. Dogecoin co-founder Billy Markus has acknowledged Cuba’s position, saying the misrepresentation of opinion is annoying.

Back in October, Pysh questioned Cuba ‘s commitment to Dogecoin versus Bitcoin. Cuba reaffirmed its preference in the crypto asset, saying it would continue to talk about it even with the pressure from Bitcoin maximalists.

Now, in its latest tweet, Cuba criticized Bitcoin saying it will not «forever» be a hedge against inflation. And while he owns a piece of the asset, he believes that the words «inflation hedging» are just a marketing slogan developed by Bitcoin and the goldsmiths.

Escher Booko

I am fascinated by the complex possibilities of blockchain technology and try to make the subject accessible to everyone. My goal is to make the world aware of cryptocurrencies in a simple and understandable way. I believe that cryptocurrencies and blockchain technology will have a great positive impact on people's lives.

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