RealVision
- Billionaire Mark Cuban discussed the stock market bubble, Wall Street bets and Bitcoin.
- The “Shark Tank” star also highlighted the power of AI, digital assets and stimulus checks.
- Cuban compared the blockchain industry to the early days of the Internet.
- Visit the Business Insider home page for more stories.
Tech billionaire Mark Cuban blamed the Federal Reserve for raising asset prices, suggested retail investors are looking for revenge, and investigated the value of Bitcoin in a RealVision interview released this week.
The Shark Tank investor and owner of the Dallas Mavericks also explained why Amazon and Netflix are his biggest stakes, presented ownership of digital goods as a remedy for inequality and called for more government stimulus.
Here are the 14 best Cuban quotes from the discussion, slightly edited and condensed for clarity:
1. “This is a bubble driven by the Fed more than anything else.” – noting that interest rates were 4% or 5% during the dot-com bubble so that people could save their money and make a risk-free return, while near-zero rates today push investors into stocks.
2. “It’s not about investing and almost not even negotiating, it’s more of a revenge. It’s the nerd’s revenge. It’s the little boy’s revenge.” – explaining the momentum behind the meme stock frenzy.
3. “The biggest threat is not so much the banks. It is liquidity, as we saw with Robinhood, and it is the SEC that we do not know what they will do.” – highlighting the barriers for ordinary investors to join forces to disrupt Wall Street.
Read More: Short seller Carson Block says the day-trading revolution that hit GameStop and other stocks is changing the playing field for investors like him. That’s how his company is reinventing itself – and what he’s betting against today. (edited)
4. “It’s like the early days of the Internet. No one really knows what it will be. There is a long way to go and many companies don’t work. But you will get some, oh my God, winners.” – on the prospects of the blockchain industry.
5. “Disruptors are going to win. We just don’t know which disruptors, or exactly how they are going to win, but they are going to win. They always win. I don’t see any horses and wagons, I don’t see any. CD makers are doing great.”
6. “Bitcoin will not be a currency. It will not be a protection against the fiat and the impression of many fiduciary dollars. It is a store of value that will increase in value because it is scarce.”
7. “Bitcoin is a reserve asset, just as gold is considered a reserve asset. If the world goes to hell in a basket of hands, there is no one walking around with a gold bar, because someone bigger will slap your ass off and grab your gold bar. But they’ll still be hungry. If I have a banana, you’ll give me your gold bar. “
Read More: A former Merrill Lynch ETF expert shows you how to build a perfect portfolio for today’s market scenario – including 4 key sectors for sustainable returns
8. “My allocation in cryptography has accumulated over the years and I have never sold. I traded some for Aave recently. I’m not looking to get in and out of the market. I’m not a day trader, it takes a lot of work.”
9. “I bought some of them where I said, ‘OK, I’m going to invest $ 10,000 just for shit and laughter’, but I’m not going to say what they are, because I don’t want to hear screams.” – discussing which cryptocurrencies he has.
10. “My two biggest stakes are Amazon and Netflix, and they have been for years. And the reason why I continue with them is your AI capabilities. If you’re not a big AI company, I have no interest in being a great investor. “
11. “Share them, I don’t care. This will create more shareholder value.” – about the dismantling of “big tech companies” due to concerns about the monopoly.
Read More: GOLDMAN SACHS: Buy these 26 ‘best of both worlds’ stocks set to skyrocket with the economic recovery, even if interest rates remain low
12. “Until you allow people to accumulate digital assets of any kind, you will always have those who have and those who don’t.”
13. “If you can borrow money for who knows how much time less than 1%, and invest in the American people, and get a return of more than 1%, traditional investors would say this is very good.” – explaining why the US government should send more stimulus checks.
14. “I’m not a fan of universal basic income, but I love sharing what America, Inc. creates.”