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Tech billionaire investor Mark Cuban says debt payment of any type is âprobablyâ the best investment right now.
Billionaire tech businessman and one of the Shark Tank showâs âshark investors,â Mark Cuban has recently sat down with Kitco News, an outlet specialized on covering news about precious metals, to talk about his opinions on investing in various assets, including Bitcoin and gold.
When asked about what is the safest investment right now, Cuban didnât say stocks, gold or Bitcoin (BTC). Instead, he argued that paying off your credit cards, student loans, or  âwhatever debt you haveâ is âprobably the best investmentâ you can make.
âThe reason for that is whatever interest you have - it might be a student loan with a 7% interest rate - if you pay off that loan, you're making 7 percent. And so that's your immediate return, which is a lot safer than trying to pick a stock, or trying to pick real estate or whatever it may be.â
Talking about gold and Bitcoin, Cuban said that he hates both, adding that he looks at cryptocurrencies and precious metals as largely the same thing, calling them âcollectibles.â The billionaire investor explained that the value of both gold and Bitcoin is based on supply and demand. However, he also stressed that Bitcoin is in a more favorable position due to its scarcity.
âThe good news about bitcoin is that thereâs a finite supply thatâll ever be created, and the bad news about gold is that theyâll keep mining more.â
This is the second time when Cuban seemingly reversed his opinion on Bitcoin. Back in June 2017 he criticized the worldâs leading virtual currency by calling it âa bubble,â but by October he started claiming that cryptocurrencies and Blockchain are the future.
Last October, Cuban also included a tip to invest up to 10% of your life savings in Bitcoin or Ethereum in his video âGuide to Getting Rich,â calling them âhigh-riskâ assets. In his latest interview with Kitco, Cuban recommends to put the money in the bank to those who want to play it safe, âjust to sleep well at night.â
Apart from investing in a digital currency hedge fund and an ICO, and launching the Ethereum-based cryptocurrency Mercury Protocol in 2017, Cuban also announced in January this year that the Dallas Mavericks NBA team, which he owns, will start accepting Bitcoin as payment next season.
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The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.