Mark Cuban: BTC demand will exceed supply

Mark Cuban, a billionaire and owner of the Dallas Mavericks basketball team, said he has always invested in bitcoin BTC $61,380.52 Bitcoin 0.68% Market capitalization $1.21 trillion VOL. 24 hours $1.35 billion - because of the limited supply of coins, which could drive the first cryptocurrency’s bullish rally. Kuban is confident that the demand for the first cryptocurrency will exceed the number of traders selling it. That is why bitcoin is one of the best ways to save money.

When asked how much of his investment portfolio is in cryptocurrencies, the businessman could not answer clearly: «I don’t even know how much, but I am happy with these investments. In particular, bitcoin. There is also ethereum ETH $2,378.52 Bridged Ether (StarkGate) 0.56% Market capitalization $0.18 billion VOL. 24 hours $0.58 billion , but in a smaller amount. The dynamics of BTC depends on supply and demand. The number of coins will be only 21 million. The more people buy bitcoin and the fewer people sell it, the higher the rate will be. This is the nature of cryptocurrencies, which is why I invest in bitcoin. I am confident that the demand will exceed the number of people selling."

The Dallas Mavericks owner refrained from speculating on whether the US Securities and Exchange Commission (SEC) would approve spot exchange-traded funds for airtime. According to Cuban, the way ethereum works is different from bitcoin, as the leading altcoin is more focused on functionality. That is why, according to the strategist, more and more applications based on this network are appearing.

«The biggest disadvantage of cryptocurrencies so far has been that there hasn’t been a single app that someone’s grandmother would want to download, explaining that all her friends use it. We need all crypto applications to be very easy to use, then digital assets will be used everywhere,» Kuban summarized.

Last year, the billionaire criticized the SEC for the wrong approach to regulating the crypto industry. The businessman was outraged that the regulator’s unwillingness to develop clear rules made it impossible to understand which cryptocurrency was a security.