Add billionaire Mark Cuban to those who are skeptical of bitcoin and the cryptocurrency universe. “I think it’s in a bubble. I just don’t know when or how much it corrects. When everyone is bragging about how easy they are making $=bubble,” Cuban said in a tweetstorm on Tuesday.
Cuban’s tweetstorm comes on the heels of bitcoin’s latest record high near $2,900 a coin. The cryptocurrency has gained in 33 of the past 38 sessions, tacking on 144% over that time. It’s up 200% so far in 2017.
Here’s Cuban’s full tweetstorm…
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I think it’s in a bubble. I just don’t know when or how much it corrects. When everyone is bragging about how easy they are making $=bubble https://t.co/hTrV5DeWNd
— Mark Cuban (@mcuban) June 6, 2017
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Anyone anywhere can buy a stock. #crypto is like gold. More religion than asset. Except of course gold makes nice jewelry. #crypto notsomuch https://t.co/xp334BCRa2
— Mark Cuban (@mcuban) June 6, 2017
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In many respects it is. But it can be immediately translated into assets. #crypto is valued in dollars for a reason https://t.co/hD8CY1erOb
— Mark Cuban (@mcuban) June 6, 2017
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About 20 bucks just to learn https://t.co/fFvWpOnVLd
— Mark Cuban (@mcuban) June 6, 2017
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Everyone always thinks that this time is different. https://t.co/UFtSp6reii https://t.co/vtEuuUGJoG
— Mark Cuban (@mcuban) June 6, 2017
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2nd sign of a bubble. They just don't get it. So it's worth more https://t.co/NFa3FcjB6K
— Mark Cuban (@mcuban) June 6, 2017
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I think blockchain is very valuable and will be at the core of most transactions in the future. Healthcare, finance etc all will use it https://t.co/VfMEc9LkqR
— Mark Cuban (@mcuban) June 6, 2017
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I'm not questioning value. I'm questioning valuation https://t.co/3mZE6bx71b
— Mark Cuban (@mcuban) June 6, 2017
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Yes. But if understand it, if the price of the #cryptocurrency crashes, the miners crash with it ? https://t.co/VfMEc9LkqR
— Mark Cuban (@mcuban) June 6, 2017
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So testy. Lol. You know it's a bubble when a random twitter thread bounces the price. https://t.co/7gBGYU3JcQ
— Mark Cuban (@mcuban) June 6, 2017
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