The billionaire who as soon as mentioned that bananas are a greater medium of change than Bitcoin is doubling down on his views that the crypto asset is extra of a collectible quite than a dependable monetary asset.

In a Forbes interview conducted on Dec. 8, Dallas Mavericks proprietor Mark Cuban mentioned that crypto customers shouldn’t look to Bitcoin (BTC) as “a hedge in opposition to doomsday eventualities.” He additionally believes that the crypto asset is unlikely to interchange fiat foreign money anytime quickly.

“[Bitcoin is] a retailer of worth like gold that’s extra faith than answer to any downside,” mentioned Cuban. “Nations will take steps to guard their currencies and their capacity to tax, so the extra individuals consider that is something greater than a retailer of worth, the extra threat of presidency intervention they face.”

Cuban’s feedback got here when the value of Bitcoin was below $19,000. The asset has since reached new all-time highs, rising above $20,000 for the primary time in historical past and buying and selling above $23K at time of publication.

The billionaire claimed commodities like bananas provided extra advantages than Bitcoin, however nonetheless acknowledged it as an “investable asset”:

“A banana has extra utility, potassium is a worthwhile nutrient to each individual on the planet, however so long as individuals settle for BTC as a digital model of gold, it’s investable.”

Mark Cuban has an estimated internet value of $4.2 billion. He claimed to personal roughly $130 in Bitcoin as of August 2019 from the franchise’s merchandise and ticket purchases. Given the BTC worth stayed below $12,000 that month, Cuban’s crypto belongings may simply have doubled if he HODLed.