Here’s Why Shark Tank’s Mark Cuban Prefers Bitcoin Over Gold During a Major Economic Crisis

In a recent interview with Wired, billionaire entrepreneur Mark Cuban highlighted that investors are beginning to view Bitcoin the same way as gold in terms of “store of value.”

Gold is a time-tested tangible asset that has surged in value during the major recessions of the past half-century. Its universal demand, global acceptance, high exchangeability, and limited supply are among the factors contributing to the precious metal’s intrinsic capital appreciation over time.

Cuban explained that “gold isn’t based off the supply and demand of jewellery,” and investors tend to flock towards the asset “in the event of the economy going down.” He said that Bitcoin is one of the newest forms of currency, but many investors treat it like gold because they see the digital asset as a “great store of value.”

Cuban added that he agrees with people who view Bitcoin as an upgraded version of gold and that the digital asset could have an edge during a major economic crisis.

Bitcoin Is Easier To Exchange For Smaller Transactions

Investors buy gold to hedge portfolio risks during recessions and periods of sticky inflation. In extreme situations, like if the US dollar collapses, gold’s track record as a valuable currency could help investors stay afloat. However, gold in the bar form is challenging to exchange for goods and services.

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