Crypto crash: pain, lessons and hope for Mark Cuban

A light at the end of the tunnel? – From small to large investors multinationals like Tesla and MicroStrategyall those who exposed themselves to Bitcoin (BTC) and cryptocurrencies suffer from this bear market (bear market). This is also the case of the billionaire mark cubanwho is trying to take this fall in the crypto market with philosophywhile maintaining hope for the best projects.

Many weak or lame projects will not survive this crypto winter

The Billionaire mark cubanalthough skeptical about Bitcoin, took great interest – and has invested – in the ecosystem ofEthereum (ETH), and its sidechain polygon (MATIC). It is more particularly a big fan of decentralized finance (DeFi).

Suffice to say that the cascading disasters of recent weeks, from Terra (LUNA) to Celsius and Three Arrows Capitalalso have it impacted by the strong general drop in prices that these events caused.

In an interview with Fortune, Mark Cuban is realistic on the possible difficulties insurmountable that some crypto projects will suffer. In question, the ambient gloom global markets. Including even in the markets actions classics (excluding crypto):

“In stocks and cryptocurrencies, you will see companies that have been backed by easy, cheap money – but who had no valid business prospects – vanish. (…) As we say [Warren] Buffett, ‘When the tide goes out, you see who’s swimming naked’. »

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For Mark Cuban, the most innovative projects will bounce back

The owner of the Dallas Maverick basketball team, however, is not not pessimistic for the future of revolutionary crypto projects. The billionaire thinks the bounce of Bitcoin and its ilk will depend on that of equity markets. And more particularly that of Nasdaq.

Similarly, Mark Cuban believes that projects whose applications can “changing the deal” will get away a lot faster and better of this current mess:

“Disruptive applications and technologies launched during a bear market, whether in stocks or cryptocurrencies (…), will always find a market and succeed in breaking through. »

So Mark Cuban isn’t the only billionaire to stay confident on crypto-assets. Indeed, the CEO of MicroStrategy, Michael Saylor is he squarely in the HODL world (conservation) on his bitcoins and those of his company.

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