HomeCryptocurrencyBitcoinPut 10% Savings in Bitcoin, Mark Cuban Tells Vanity Fair ‘Adventurers’

Put 10% Savings in Bitcoin, Mark Cuban Tells Vanity Fair ‘Adventurers’

-

Investor and entrepreneur Mark Cuban has upped his cryptocurrency advocacy, telling Vanity Fair readers to put 10 percent of their money into it.

In a video guide on “getting rich,” Cuban produced nine tips on maximizing potential wealth long-term.

Among them in fifth place was advice to “invest up to 10 percent of savings” in so-called “high risk” assets, specifically Bitcoin and Ethereum.

“If you’re a true adventurer and you really want to throw the Hail Mary, you might take 10 percent and put it in Bitcoin or Ethereum,” he said.

“But if you do that, you’ve got to pretend you’ve already lost your money.”

Cuban’s own perspective on Bitcoin has undergone a metamorphosis this year. Despite considering its price as a bubble, the billionaire subsequently invested in both an ICO and a dedicated cryptocurrency hedge fund.

While some skepticism remains, Cuban’s 10 percent figure is still higher than that advised by fellow investor Fred Wilson, who last week suggested a maximum of three to five percent crypto holdings for the “average” investor.

“I think that’s likely at the high end of what the average person should have, but I also think it’s not a ridiculous number for the average person to have,” he said discussing the topic.

“Many endowments, pension funds, etc allocate three to five percent of their portfolio to venture capital. They know (it’s) a risky asset but it has the potential for outsized returns.”

LATEST POSTS

Cyprus registers Binance as a cryptocurrency service provider.

Binance, a cryptocurrency exchange, will be able to provide services for virtual currencies in Cyprus as a result of the platform's recent registration with the...

More than 24,000 ATMs in Brazil will offer USDT through Tether and Smartpay.

Usdt, the largest dollar-pegged stablecoin on the market, was created by Tether, a company. Tether recently announced that more than 24,000 ATMs in Brazil will...

To solve the blockchain modularity issue, Celestia raises $55 million.

The project Celestia, which seeks to address the alleged centralization issue in the current monolithic blockchains, has announced the completion of its most recent funding...

Hong Kong considers removing the “Professional Investor-Only Requirement” and allowing retail investors to trade cryptocurrency.

Securities and Futures Commission (SFC) of Hong Kong's director of licensing and head of the fintech division both confirmed that the regulator is taking into...

Follow us

13,033FansLike
3,703FollowersFollow
0SubscribersSubscribe

Most Popular

spot_img