Saturday, August 13, 2022
Home Crypto News Market Mark Cuban Compares Crypto Crash To Buffett's Advice: "When Tide Goes Out,...

Mark Cuban Compares Crypto Crash To Buffett’s Advice: “When Tide Goes Out, You Get To See Who Is Swimming Naked’”

- Advertisement -

Mark Cuban Compares Crypto Crash To Buffett’s advice.

Ethereum maximalist and Dallas Mavericks owner, Mark Cuban, recently told Fortune that:

“In stocks and crypto, you will see companies that were sustained by cheap, easy money—but didn’t have valid business prospects—will disappear. Like [Warren] Buffett says, ‘When the tide goes out, you get to see who is swimming naked.’”

Cuban has said that he believes innovation will emerge from the current bear market in cryptocurrency, despite the widespread pessimism in the sector. According to him, disruptive apps and technologies that are developed during a bear market, be it in stocks or cryptocurrency, or any other industry, will always eventually find a market and flourish.

“Disruptive applications and technology released during a bear market, whether stocks or crypto or any business, will always find a market and succeed,”

The current crypto crash began with the collapse of the Terra network. Following that, Celsius, a prominent crypto lending company, has a liquidity difficulty as the market falls. After pausing withdrawals, Celsius Network might collapse like Terraform Labs’ LUNA and UST. Experts and crypto researchers, however, say Celsius Network is tackling its liquidity problem.

Cuban is himself a passionate investor in cryptocurrencies and a self-proclaimed maximalist of Ethereum’s potential. He is an investor in a number of blockchain startups and is the owner of a small number of digital currencies and non-fungible tokens (NFTs).

Mark Cuban has just recently likened cryptocurrencies to the early internet in terms of enthusiasm and skepticism. He also forecasted a shake-out in cryptocurrency and supported non-fungible tokens (NFTs).

The investor from Shark Tank and owner of the Dallas Mavericks made a comparison between the dot-com craze of the 1990s and the cryptocurrency frenzy of today.

According to him, a slowdown in the market will help rein in the excessive advertising and speculation, and it will also assist decentralized finance (DeFi), smart contracts, and other real prospects in standing out from the rest of the competition.

Watching the cryptos trade, it’s EXACTLY like the internet stock bubble. EXACTLY. I think BTC, ETH, a few others will be analogous to those that were built during the dotcom era, survived the bubble bursting and thrived, like AMZN, EBay, and Priceline. Many won’t.”

- Advertisement -


The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Ammara Mubin
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

IOG Says “Getting Things Right” Is The Priority After Cardano Investor Asked When Vasil Will Launch

  IOG has responded to ADA investors who are eager to know the exact date for the launch of the Vasil hard fork.  Input Output Global...

The Deputy Minister Of Digital Transformation Says Ukraine Should Launch A CBDC

Alex Bornyakov is in support of a digital hryvnia. In a four-tweet thread on Friday, Ukraine's Deputy Minister Of Digital Transformation, Alex Bornyakov, argues that...

Shiba Inu Lead Developer Gets A Harsh Response From “Can You Pet The Dog”

  "Can You Pet The Dog" Shuns Shiba Inu Game, Shiba Eternity As It Wants Nothing To Do With Crypto Projects. ...

Shiba Inu And BONE Becomes Top Trending Coins in Asia, USA, and Canada

Shiba Inu and Bone are trending worldwide. window.coinzilla_display = window.coinzilla_display || ; var c_display_preferences...

NOWNodes Adds Support for Shiba Inu Burn Portal Reward Token Ryoshi Vision (RYOSHI)

  The listing of RYOSHI will enable developers to build on Ryoshi Vision via NOWNode's platform. window.coinzilla_display =...

71,225 XRP Holders Now Stand With Ripple Against SEC, Deaton Says All XRP Investors Are Leaders Of XRPArmy

  The Amici attorney has commended XRP investors for their collaboration toward Ripple’s legal battle against the SEC.  ...

One Year After Burning Mechanism Launched, 2.5 Million Ethereum Worth $5B Burnt, Is ETH Becoming Deflationary?

  About 2.1% of Ethereum's circulating supply has been burned since the London hard fork. window.coinzilla_display = window.coinzilla_display...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.