Billionaire and crypto-asset proponent Mark Cuban has identified Bitcoin hobbyist endurance as a model that stock investors can follow. According to the billionaire, after acquiring assets at high prices in 2017, these scammers “persisted on it because they believed in assets.”
Follow in the footsteps of BTC scammers
Even after the 2017/18 bull market ended, when crypto assets lost more than two-thirds of their value, these long-term obstacles remained. Cuba’s remarks about BTC traders are in response to a request for consultation from stock traders who suffered losses last week. Among the billionaires who recently expressed appreciation for the efforts of Wallstreetbets (WSB) traders, he explained that common stock traders should adopt a similar approach to his and BTC traders.
The billionaire explained:
When I buy a stock, please make sure I know why I want to buy it. Then I went to Hodl until I knew the situation had changed. The price may rise or fall, but if I still believe in the logic that prompted me to buy the asset, then I will not sell it. If there is an unexpected change, then I will consider selling.
Disadvantages of WSB
At the same time, during the Ask Me Anything (AMA) meeting at the same time, the Cubans also discussed the potential impact of the WSB’s battle to change the rules of the game on Wall Street powers again. However, Cuba did find a flaw that was not conducive to the success of the rebellion. He explained:
There is only one thing that messed up all of you, Robin Hood and other zero-commission brokers, everyone did not have enough funds to fund this battle. They disappoint you.
Cuba’s latest praise of the WSB movement is the second time he has done so in less than a week. Prior to the AMA, the billionaire wrote on his blog how the “repository of value creation” challenged the status quo.
At the same time, the billionaire took the time to explain his love for “game-changing technology”. In response to another Reddit user, Cuban stated that he “has no interest in selling any tokens I bought or earned.” Instead, the billionaire tells users that he “is doing this because he thinks that some of the next great applications can be built on top of the blockchain”.
What is your opinion on Cuba’s remarks about Bitcoin hobbyists? You can tell us your thoughts in the comments section below.
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