Mark Cuban advised Peter Schiff to admit that gold is dead and move on

Mark Cuban, who once argued that it is better to buy bananas than cryptocurrency, advised Peter Schiff to admit that gold is dead and move on.

The owner of the NBA Dallas Mavericks basketball team, Mark Cuban, stated that Bitcoin is much better than gold. In response to Peter Schiff's publication that the main cryptocurrency on the market was simply “pumped”, forcing Wall Street to succumb to mania, Cuban said that gold was “pumped” no less.

He also added that the precious metal is a store of value, which is still based on technology. Previously, their role was played by shovel picks, but today they have been replaced by more modern counterparts. Consequently, whoever is able to use innovative technologies more effectively will receive a worthy reward for this.

Schiffre decided to bend his line, insisting that Cuban should have stopped thinking that bananas are better than Bitcoins. He said that Mark changed his mind only because the price of the main cryptocurrency has skyrocketed, but, in fact, it is still the same bubble that swelled in size.

Cuban admitted that he really was convinced of this before, since he could eat a banana and it had visible benefits, but this opinion was changed by DeFi. They empowered people to become their "personal bankers" by making it easier to carry out different types of money transactions, thus bringing tangible benefits.

Try not to jump to conclusions so that you don't have to change your shoes later, as many successful Wall Street businessmen do with Bitcoin and cryptocurrencies today. On the other hand, it is never too late to change your mind by admitting that you are wrong. Even if it entails hundreds of yellow headlines and general censure.

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