Billionaire Mark Cuban Says Cryptocurrency Is The Future

JAKARTA – Cryptocurrencies have doubled their market capitalization by USD1 trillion in the last three months. At this moment, Dallas Mavericks boss Mark Cuban called on the world to open up to cryptocurrency and decentralization.

According to a report from Business Insider on Monday, May 10, Mark Cuban said that cryptocurrencies are the future, especially as the world begins to gradually recover from the global pandemic.

He outlined a number of reasons why countries should turn to digital money. Cuban said that cryptocurrencies give more access to their users. Especially access to the receipt and disbursement of stimulus money that is currently happening in America can take place faster and more efficiently.

"People need money immediately. If everyone had a digital bank account, with or without digital coins, the money would just go in, straight into your account from the Treasury Department whenever there was a stimulus," Cuban said in a podcast hosted by actor Rob Lowe.

In addition to access, Cuban also said that cryptocurrency transactions are charged less than banks. Over time, the transaction cost of digital assets will continue to decrease significantly, making it easier for cryptocurrency users.

While the cost of producing a number of coins such as penny, dime, nickels, in the United States alone should cost about 618 billion U.S. dollars as Reported by Coin News.

He also added that the only problem is people rejecting change. The billionaire has long supported cryptocurrencies. That was evident when the Dallas Mavericks accepted the marchandise purchase of his basketball club using Dogecoin cryptocurrency.

From year to year, cryptocurrencies continue to experience an astonishing surge. Bitcoin jumped 95 percent, Etheeum skyrocketed 380 percent, and Dogecoin managed to experience an even higher increase of 13,000 percent.