Within the global business world, there are those that are very enthusiastic about cryptocurrencies such as Andrew Wozniak and Jack Dorsey, the founder of Twitter. At the same, cryptocurrency comes under a significant amount of criticism from prominent individuals such as Warren Buffett, who is an outspoken crypto critic, Mark Cuban as well as regulators and lawmakers from different parts of the world. As crypto enters a new phase of maturity, it is likely that many critics might begin to see the benefit in crypto or might double down on their anti-crypto stance.
Mark Cuban, a billionaire, and outspoken bitcoin critic, recently published comments in Forbes which appeared to contradict his previous statements about the reliability of bitcoin as an investment tool.
During the exchange, Cuban was asked if bitcoin could be considered a reliable financial tool to which he gave two answers that appear to contradict themselves. In the first instance, he stated that there was no chance of the crypto being a reliable financial tool but then gave a different answer later on.
“It is a collectible. If you consider art or gold a viable stable financial asset, then yes. It can be,” he said.
In the interview, Cuban also stated that several investors were put off by the idea of crypto because they could not fully understand what it was and this is a constant issue among many crypto critics in that they either do not fully understand cryptocurrency and simply write it off as a result. An example was the CEO of JP Morgan who was pushed to explain his previous comments of calling bitcoin a fraud years ago but instead, he said that he is not necessarily a crypto skeptic and this came just around the same time that JP Morgan announced that they will be launching their own stablecoin. This brings up the debate of whether crypto skeptics will change their tune once they see the financial benefits of cryptocurrency or whether as crypto education becomes more widespread, this change will happen more organically.