Ethereum has grown to the point where it has landed on the radar of big investors. The digital asset is seeing increasing support from institutional investors after rallying to new highs this year. Despite not hitting its previous all-time high, the asset has seen a recent increase in value that has pushed investors more towards the altcoin. Its broad use cases have made it an investor favorite in the last year.
Ethereum’s utility has been one of the most interesting things about the blockchain. Instead of sticking to a monetary policy and being used as a means of exchange like its predecessor Bitcoin, the cryptocurrency has taken more unconventional routes. Decentralized finance protocols which operate on the blockchain have been a major pull for users towards the digital asset. But billionaire investor Mark Cuban still believes that the altcoin is still closer than bitcoin to being “a true currency.”
Ethereum Is A Better Investment
Mark Cuban revealed that he believed ethereum was a better option for a true currency on CNBC’s Make It show. The billionaire talked about his investments in the space and also gave his opinions on what beginner investors should put money in when coming into the market.
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Cuban touched on the top cryptocurrencies in the market and talked about their viability as investments. Answering a question regarding what new investors should put their money in, the billionaire investor revealed that ethereum was the way to go. “As an investment, I think ethereum has the most upside,” Cuban said.
ETH price trading above $3,700 | Source: ETHUSD on TradingView.com
The investor maintained a bullish stance on ethereum for most of the interview. Even expressing regret on not getting into the cryptocurrency sooner. Cuban expressed that he wished he “had bought [ether] sooner,” although he is currently invested in the altcoin.
Investing In Crypto
Cuban did not dismiss bitcoin despite his bullish stance on Ethereum. The billionaire had also praised the top cryptocurrency, saying that bitcoin is a “better gold than gold.” Cuban owns bitcoin alongside ethereum and dogecoin, with other altcoins in his portfolio. With NFTs and investments in blockchain companies also seeing a pronounced presence in his portfolio.
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When it comes to investing for the first time or learning about the space, Cuban has put forward that Dogecoin is the best entry point for newcomers. He has, in the past, revealed that he had bought some Doge when he was trying to teach his son about cryptocurrencies and also used the opportunity to educate himself on the space.
Interestingly, Cuban still maintains that Dogecoin is the best way to pay for things. Ethereum may be the closes thing to a real currency, according to the billionaire, but Dogecoin takes the lead as a preferable method of payment.
Cuban’s crypto portfolio consists mainly of ethereum, while owning only about $1,500 worth of Dogecoin.
Featured image from Little Saves, chart from TradingView.com