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American billionaire entrepreneur and TV personality Mark Cuban (Mark Cuban) and Creative Planning founder Peter Mallouk (Peter Mallouk) have bet on the performance of cryptocurrencies relative to the Standard & Poor’s 500 Index. Cuban said on Twitter that the two should invest $1 million in smart contracts based on stablecoins in order to bet on the performance of Ethereum or Bitcoin relative to the S&P 500 index in ten years.
As one of the investors in the ABC reality TV show “Shark Tank”, Mark Cuban has been talking about cryptocurrency recently. Recently, the billionaire told Ellen · Ellen Degeneres on the potential of Dogecoin (DOGE). As the owner of the Dallas Mavericks of the National Basketball Association (NBA), Cuba now allows the Mavericks to accept digital currency for goods and services.
However, just recently, Peter Mallouk The founder of Creative Planning, a financial management group, said that people who listen to Cuban Dogecoin tweets are not very smart.
“So many people hear that the money will lose so much money. Just walk out of Dumb and Dumb,” Mallouk (Mallouk) Emphasized In his tweet. “If you buy a hundred stocks, the odds are the greatest. If you buy a hundred cryptocurrencies, most of them will become zero. The difference is huge”, Creative Planning founder Add to.
The Cuban then replied to Maluk’s tweet saying:
Only fools will buy 100 shares or 100 crypto assets. But let me ask a question. As a shareholder, what rights do you have in any public shares you buy?
Since then, Twitter conversations have turned into friendly bets. “How is it?” Cuban write Go to Mallouk.
“We have established an ETH smart contract. You invested $1 million in the stablecoin. I invested $1 million in the stablecoin. If at the end the increase of the S&P 500 index is higher than your choice of Bitcoin (BTC) or For Ethereum (ETH) gains, we sign a contract to pay you. You can choose a custodian,” Cuban further said.
The conversation seemed to attract people’s attention, and Mallouk seemed interested in participating.
Maluk said: “The probability of a diversified portfolio beating someone to pick a few stocks is very high,” he tried to convince Cubans. “Only a fool will bet on a few stocks. Over the next 10 years, I will use the SP 500 return against any set of stocks you wish to pick and feel very good. I am spending our money behind the debate. Mark Cuban, you can choose the amount, and the proceeds will be donated to the charity chosen by the winner. I will bring SP500. You can choose and trade any stock at any time.” Mallouk emphasized.
After the Cuban posted a tweet about using the stablecoin-based smart contract held by the custodian, Maluk once again expressed his interest.
“This is interesting. It starts when you promote the Governor. I will adopt the S&P 500 and you can adopt Doge. The loser with a 10-year return will donate $1 million to the charity of the winner. But if you are not sure about the Governor Win,” Maluk said.
“Then we can move on to the next thing we don’t agree with,” the Creative Planning founder added. “You mentioned that’only fools’ will invest in 100 stocks. I will use 100 stock indexes or 100 stocks. You can choose any stock you want. According to your market needs, I am also very satisfied with this. “
What do you think of the bet between Mark Cuban and Creative Planning founder Peter Mallouk? Do you think this bet will succeed? Let us know your thoughts on this topic in the comments section below.
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