Bitcoin

Mark Cuban promotes Bitcoin rebate and praises monetary policy

Mark Cuban promotes Bitcoin rebate and praises monetary policy

The billionaire goes from bitcoin critic to believer

The Christmas rally has sent bitcoin’s all-time high to ever-higher marks. A couple of recent tweets, meanwhile, suggest that a former critic of digital currencies is becoming a Hodler: Billionaire investor and Dallas Mavericks owner Mark Cuban.

In a tweet on 23 December, Cuban announced that fans buying Mavericks apparel would receive a 25 per cent discount if they used Bitcoin for their purchases. However, the report Cuban linked to said that shoppers who make purchases for over $150 with Bitcoin Circuit would receive a $25 gift card. There was no mention of a discount over 25 per cent:

Want to spend your $BTC somewhere…. Spend it with the Mavs and get a 25 percent discount for using Bitcoin !https://t.co/De7Y5f28s8
– Mark Cuban (@mcuban) December 23, 2020

This gift card offer, and acceptance of Bitcoin as payment for Mavericks tickets, strikes some observers as odd given Cuban’s past criticism of the asset. Earlier in 2020, he reiterated one of his statements from September 2019, stating that he preferred bananas Bitcoin as a commodity.

Many people say that the acceptance of Bitcoin as a store of value is a process, not an event. Cuban seems to be going through this one.

In a tweet, Cuban praised Bitcoin’s programmatic monetary policy and said listed companies would do well to issue fewer shares:

Public companies should learn a lesson from BItcoin and commit to not issue new shares of stock. Ever. Their stock prices would immediately jump.
– Mark Cuban (@mcuban) December 27, 2020

This about-face earned Cuban a place on Cointelegraph’s list of former Bitcoin critics 2020

Still, hodlers should be cautious before adding another member to their ranks. Indeed, Cuban has in the past shown nothing but contempt for the „religious“ fervour among holders hoping for an end of the world. In another tweet from this week, however, he pretended to be one of those believers when responding to a tweet from Elon Musk:

Blasphemous I say, just Blasphemous ! https://t.co/Jk47KqY2x6
– Mark Cuban (@mcuban) December 21, 2020

Standard