A famous billionaire and known crypto fan, Mark Cuban highlights the investment model which would ultimately benefit most of stock investors. Cuban points out that those who invested in Bitcoin in 2017 and kept their assets without disposing them, should be role models for others. Says that they kept their assets because they never doubtedBitcoin’s potential and worth. Instead, they kept their assets and now the legendary coin has arisen above the ground.
When the value of leading cryptocurrency went down dramatically, even than Bitcoin holders never thought of disposing of their assets. These holders weren’t even provoked to sell their Bitcoins when the crypto bull-run ended at 2017’s end and the beginning of 2018.
These were the remarks of world-renowned billionaire and prominent crypto fan, Mark Cuban, regarding the world’s very first digital currency, Bitcoin. Cuban was responding to a request in which the billionaire was asked to render his advice after the GameStop incident. He suggested that those regular traders who are affiliated with stocks trading should learn a lesson from Bitcoin holders. He said that there is a dire need for stock traders to make Bitcoin holders their role models and take inspiration from them.
Cuban was attending an online session known as “ask me anything” or “AMA” when he gave his viewpoint regarding stock trading. Cuban advised that if he ever wants to acquire stocks, the first thing he asks himself why he is buying them. Once he receives back the answer he needs, only then he invests in stocks. He said that the value of stocks keeps on changing here and there and never settling. But he neither sells them when the prices are high nor purchases them when the prices are low. However, if there is an apparent change which he wasn’t expecting, only then he sells/purchases the stocks, told Cuban.
Regarding the GameStop incident, he commented that the war, in which Wall Street’s powerhouses were made to taste the defeat, was won by rebellion. He stated that the losers made one big mistake and relied upon Robinhood and on those who did not have the sources to take the fight.
While concluding his advice, Cuban suggested that what is done cannot be undone however lessons can be learned from past mistakes. He said that stock traders should now get on their feet and come up with constructive which is free from revenge. He stated that the GameStop incident teaches everyone a lesson not to take anyone for granted. No one has the right to bully someone or design a scheme to systematically throwing down anyone.
He said that only crypto industry is free from such rivalries and infighting. This is the reason why Bitcoin has become a better asset than gold and is regarded as safe-haven for storing value.