Billionaire investor Mark Cuban has his own way of evaluating the potential of crypto projects, just like his perspective on Dogecoin. He looks at blockchains as networks with development potential through smart contracts. Cuban’s recent investment in blockchain startup Polygon follows his pursuit for projects like Ethereum which can execute smart contracts among others. In a latest, Mark Cuban reiterated his confidence in Dogecoin as a platform with capabilities to host applications.
Mark Cuban’s Confidence In Dogecoin
In an interview with Altcoin Daily, the billionaire investor indicated that projects like Cardano did not maximize on opportunities. He said Cardano had a greater opportunity compared to Dogecoin in terms of becoming a platform for applications. The opportunity for Cardano was greater until Dogecoin really becomes a platform for applications, Mark Cuban explained. He added that Cardano did not turn out to be the platform with the most popular applications.
“If the next big application that everybody wants to use is on Cardano and you have to buy ADA, that would be great. But it hasn’t happened yet.”
Cuban highlighted that the DOGE blockchain has more applications available than Cardano. Despite the fact that cryptocurrencies like DOGE and Shiba Inu (SHIB) have high market capitalizations, Cuban prefers Dogecoin. It is the potential to attract more applications that holds the edge for blockchains for the billionaire. Even with cryptocurrencies, it still comes down to the business, he said.
“The beauty of crypto is that it can make a business better. It creates new opportunities to run a business. But (with crypto) there has to be a business and a utility.” Cuban said investors looking to buy crypto could look at where individuals find themselves using the tokens in daily life.
Meanwhile, DOGE, SHIB and ADA rose when compared with daily prices. As of writing, DOGE stands at $0.07176, up 3.91% and SHIB price is $0.00001263, up 4.91% in the last 24 hours. Whereas ADA price is trading at $0.5421, up 4.36% compared with 24-hour rates.
Anvesh reports major developments around crypto adoption and price analysis. Having been associated with the industry since 2016, Anvesh is a strong advocate of decentralized technologies. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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