by John Rubino
Dollar Collapse
The Wall Street Journal recently posted an email conversation between columnist Andy Kessler and billionaire Mark Cuban in which Cuban explains the real point of cryptocurrencies. Hint: It has nothing to do with the price of bitcoin or ethereum.
The Dallas Mavericks owner explains the allure and efficiency of digital ‘ownership.’
After my recent column on buying devices like iPhones but not really owning them, Mark Cuban, as he sometimes does, responded via email: “Nice argument for NFTs,” referring to nonfungible tokens. I’ve known Mr. Cuban since the last tech bubble, when he famously sold Broadcast.com in 1999 to Yahoo! for $5.7 billion, more than Apollo Global Management paid Verizon for the remnants of Yahoo, AOL and even Netscape earlier this month. He smartly hedged his position and bought the Dallas Mavericks in 2000.