Key highlights:
- Billionaire investor Mark Cuban seems to have accidentally disclosed the portfolio of his Ethereum wallet
- Cuban said that he owns his fair share of “shitcoins”
- Cryptocurrencies have been met with a mixed response from famous investors
Famous billionaire investor Mark Cuban seems to have accidentally disclosed the contents of his Ethereum wallet. The wallet contains many ERC-20 tokens, some with very low market caps. After the revelation, he jokingly said: “I definitely own my fair share of shitcoins”. “Shitcoin” is a term used in the cryptocurrency community to jokingly describe low market cap cryptocurrencies.
Cuban posted a video of himself dancing while wearing the apparel of the Dallas Mavericks, the NBA team which he owns. The video was posted as a non-fungible token (NFT) on Rarible, a popular marketplace for NFTs. Cuban’s account on Rarible contained an Ethereum address that was later traced by sleuths on Twitter, who found another Ethereum wallet that contains many different crypto assets.
What was in Cuban’s wallet?
After the disclosure of Cuban’s Ethereum wallet balances, users were shocked to see that Cuban has only 0.54 ETH. The central part of his portfolio was AAVE, and it seems that Cuban is staking it. There were 40 other tokens in his portfolio that users have labeled as “shitcoins”.
FWB, MASQ, LADZ, FTM were among some of those “shitcoins”. Some of these coins, for example FTM, experienced sharp price increases after the contents of Cuban’s wallet were revealed.
Of course, it’s entirely possible that this is not Cuban’s only Ethereum wallet and that he also has other holdings which are unknown.
Cuban is interested in DeFi
In an “ask me anything” session that was recently hosted on the r/WallStreetBets subreddit, Mark Cuban discussed his thoughts on decentralized finance (DeFi).
In the AMA, Cuban was asked about his crypto portfolio at the moment, and in response, he referred to SUSHI and AAVE as two tokens worth following.
Reports also mention that Cuban also has Bitcoin, Ethereum, and Litecoin, which is not too surprising. Cuban has talked about DeFi, and he sees DeFi as some other new technologies like green technology. He believes in the potential and bright future of DeFi. Cuban believes DeFi could prove to be a revolutionary technology in the next decade.
He has also talked about the other aspects of crypto space, like the strength of Bitcoin HODLers – just the fact the he used the term HODL shows that Cuban is getting deeply involved in the crypto world. What do you think
Leading investors have different approaches to crypto
Cryptocurrency is a new technology, and like most new technologies, it has met a very polarized response from investors. Tesla and SpaceX CEO Elon Musk recently embraced Bitcoin, saying that he views himself as a Bitcoin supporter. Before the recent comments, Musk mostly discussed cryptocurrency in a humorous manner, leaving the crypto community confused about his actual stance on cryptocurrency.
On the other hand, there are leading investors like Warren Buffet who criticize Bitcoin outright. Previously, he addressed Bitcoin as “rat poison squared”. However, it’s worth mentioning that Buffett does believe that Blockchain is a useful technology. As for cryptocurrencies like Bitcoin, Buffett maintains that they have no value and won’t generate anything.
Some leading figures in the crypto world have tried to convince Buffet to accept BTC, but they haven’t been successful. Justin Sun and Charlie Lee are some of these leading figures. Justin Sun, the TRON founder, had dinner with Buffet, and he couldn’t change Buffet’s position about Bitcoin and crypto.
