Billionaire entrepreneur Mark Cuban has been a long-term investor in cryptocurrencies, allocating house to heavyweights like Ethereum (CRYPTO: ETH) in his portfolio.
What Occurred: In a podcast hosted by Delphi Digital in March 2021, Cuban heaped reward on the world’s second-largest cryptocurrency.
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He notably talked about its versatility and technological development, options which finally drew him into the asset. “I wish I had bought it sooner, but I started buying it four years ago, simply because I think it’s the closest we have to a true currency,” Cuban acknowledged.
When Cuban made these bullish remarks, one Ether was valued at $1,716. So, if you happen to invested $1,000 then, it might have fetched you 0.58 Ether.
That appears a very long time in the past. The cryptocurrency ballooned to its all-time excessive of $4,878 later in 2021, confronted a painful winter in 2022, and made a spirited restoration in 2023-24.
As of this writing, one Ether is priced at $3,449.26. Subsequently, 0.58 ETH will likely be price $2,000 in the present day, almost doubling in worth.
Why It Issues: Ether has been on a robust restoration path this yr, leaping 51% year-to-date. Its YTD features have mirrored that of the apex cryptocurrency Bitcoin (CRYPTO: BTC).
A giant a part of the increase has come from the approval of exchange-traded funds that may monitor the price of the asset in real-time. The ETFs are prone to start buying and selling by subsequent week, giving mainstream buyers a handy technique to get publicity to the cryptocurrency.
Be aware that as of in the present day, Mark Cuban simply holds 0.026 Ether, price $88.11 in his portfolio, in accordance with knowledge from Arkham Intelligence.
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This text If You Invested $1,000 In Ethereum When Mark Cuban Known as It Closest We Have To A ‘True Forex,’ Here is How A lot You’d Have Immediately initially appeared on Benzinga.com
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