Shark Tank Investor Mark Cuban Says Stars Aligned For Massive Bitcoin Price Surge, May Become Global Reserve Currency

Updated: 18 July 2024

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

Shark Tank investor and billionaire Mark Cuban says the stars are aligning perfectly for a soaring Bitcoin (BTC) rally and that there’s a chance the flagship crypto could become a global reserve currency.

BTC’s price has the potential to go “way higher” than many in the market think, Cuban said in a July 17 X thread. “Remember, the market for BTC is global,” he wrote, before adding that “the supply has a final limit of 21m BTC, with unlimited fractionalization. “

Silicon Valley Support For Donald Trump Is A “Bitcoin Play”

Cuban also that the “emergence of Silicon Valley support” for former President Donald Trump is a “bitcoin play.”

He added that the endorsement of Trump is not necessarily due to him appearing to be a pro-crypto candidate. Instead, he believes it is because Trump getting elected will make “it easier to operate a crypto business” because it will inevitably lead to the much-needed reshuffling of top personnel at the US Securities and Exchange Commission (SEC).

In terms of BTC’s price, lower tax rates and tariffs could ignite a bullish rally, Cuban predicted. The potential for this “price acceleration” is increased when considering the global uncertainty of the US’s geopolitical role and the dollar’s weakening status as a reserve currency, according to Cuban.

Mark Cuban Says Bitcoin May Become A Global Financial “Safe Haven”

Bitcoin might end up becoming a global “safe haven” if the dollar’s role as a reserve currency continues to fade, the Shark Tank investor said.

People across the globe could subsequently turn to BTC as a means to “protect” their savings, he continued. The possibility of BTC becoming a “global currency” is “somewhere above zero, ” Cuban added.

Part 1
Here is a contrary opinion on the emergence of Silicon Valley support for former President Trump. Which like all my opinions on here, probably won’t be popular.

It’s a bitcoin play.

Not because the former President is a far stronger proponent of crypto. That’s nice.…

— Mark Cuban (@mcuban) July 17, 2024

To prove the idea of BTC becoming the new global reserve currency is not so far-fetched, Cuban said that people in countries with hyperinflation have already turned to Bitcoin to preserve their capital.

One example is Argentina, which has an annual inflation rate of 276%. This has resulted in citizens seeking refuge in digital currencies.