Mark Cuban: Of Bananas and Bitcoin – Why the Billionaire Maintains His Skepticism

Mark Cuban, known for his straightforward statements, does not shy away from expressing his opinion about Bitcoin. As early as 2019, the entrepreneur commented in a Wired Q&A on YouTube: "I’d rather have bananas. I can eat bananas. Crypto, not so much." This remark was well-considered and reflected his practical considerations. Cuban explained that the value of Bitcoin was purely speculative for him. "Bitcoin is worth what someone is willing to pay for it," he said, comparing it to collectibles like baseball cards, comics, and artworks. "There is no real intrinsic value. You can't eat a baseball card," he noted. "Your artwork may look good on the wall, but there’s not much else you can do with it. Bitcoin – you can do even less with it." The entrepreneur went further and criticized the complexity of cryptocurrencies: "Crypto is so complicated for 99% of the population. Do you put it in a device? Do you print it out? How do you protect it from hacks?" Although Cuban acknowledges the potential of blockchain technology, he sees a lack of usefulness and accessibility in Bitcoin for the average consumer. Despite this criticism, Cuban does not fundamentally advise against Bitcoin. However, he considers it important to be open about the risks. As early as 2017, he told Vanity Fair that risk-takers could invest a small portion of their savings in Bitcoin or Ethereum, with the mindset of considering that money already lost. By 2024, Cuban’s perspective on Bitcoin had somewhat changed. In a post on X, he speculated that geopolitical uncertainty and the devaluation of the US dollar could make Bitcoin the new safe haven currency like gold. "How high can the price go? Much higher than you think," he wrote. "Remember, the market for BTC is global. The supply has a fixed limit of 21 million BTC, with unlimited divisibility. Crazy? It's already happening in countries with hyperinflation.