Mark Cuban compared bananas to Bitcoin: “I would rather have bananas. I can eat bananas”, and said that cryptocurrencies are “very complicated” for 99% of people
Mark Cuban isn’t known for sugarcoating things; His opinion on bitcoin is no exception. In a 2019 Wired interview on YouTube, Cuban released one of his most memorable comments: “I’d rather have bananas. I can eat bananas. Cryptocurrencies, not so much.” And it wasn’t a random phrase: he had a full explanation for why he felt that way, and it’s surprisingly practical.
Cuban clarified that the value of bitcoin is completely speculative for him. “The value of bitcoin is whatever anyone is willing to pay for it,” he said, comparing it to collectibles like baseball cards, comics and artwork. “It has no real intrinsic value. “You can’t eat a baseball card,” he said. “Your artwork may look good on the wall, but you can’t do much with it. With bitcoin, there are even fewer things you can do.”
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If it sounds harsh, it’s because Cuban wasn’t done. He criticized the complexity of cryptocurrencies, stating that “the world of cryptocurrencies is very complicated for 99% of the population. Do I put it on a device? Do I print it? How do I keep it from being pirated?” He doesn’t belittle the underlying technology: he sees potential in Blockchain. But your problem with bitcoin lies in the lack of usefulness and accessibility for normal people.
Despite all this criticism, Cuban wasn’t telling people to avoid bitcoin entirely. He was always honest about the risks. In 2017, he told Vanity Fair: “If you are a real adventurer and want to try your luck, you could take 10% (of your savings) and put it in bitcoin or Ethereum. But, if you do that, you have to pretend that you already lost the money.”
By 2024, Cuban’s outlook on bitcoin had somewhat evolved. In a July post on “How high can the price go? Much more than you think,” he wrote. “Remember: the BTC market is global. The offer has a final limit of 21 million BTC, with unlimited fractionability. Craziness? It already happens in countries with hyperinflation.”
Mark Cuban’s perspective on bitcoin is pretty clear: it’s not useless, but it’s not the panacea some claim it to be. What you want is for people to understand what they are investing in and not for them to get carried away by emotion.
His infamous comparison to bananas was not intended to mock cryptocurrencies, but rather to argue that bitcoin is only worth what someone else is willing to pay.
When it comes to financial advice, Cuban has been outspoken about the pitfalls of credit card debt, emphasizing that paying off high-interest-rate debt is one of the best investments you can make. In an interview with Money, he said: “It’s okay to use a credit card if you pay it off at the end of the month. But recognize that the 18%, 20% or 30% you are paying on credit card debt will cost you much more than you could earn anywhere else.”
Cuban also advises not to invest in things that are not understood. He once wrote: “If you do not fully understand the risks of an investment you are contemplating, it is okay to do nothing.”
Before diving into any investment, it’s wise to consult with a financial advisor to make sure it aligns with your financial goals and risk tolerance.
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