Should you invest in cryptocurrencies? Here is the opinion of American billionaire Mark Cuban

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Investments crypto--currencies may make sense, but they have limits.

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Here’s what Mark Cuban thinks about buying cryptocurrencies.

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While Mr. Cuban supports crypto investments with both his words and actions, he believes that the amount of money used to buy virtual currency should be limited. On the same subject: SHIB: The top 1000 ETH whales have over $2 billion Shiba Inu..

“I will limit it to 10%,” he said. And he urged crypto investors to find a cheap index fund linked to the S&P 500 to put the rest of their money in. The S&P 500 is a financial index that tracks the performance of major US companies and is one of the safest and most reliable long-term investments.

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In other words, Cuban recommends taking a balanced approach. If you want to take a chance on an untested asset like cryptocurrencies, you need to make sure you only put in money you can afford to lose and invest most of your assets in a proven low-risk option.

This advice makes sense because you shouldn’t put all your eggs in one basket, especially if that basket contains variable investments that don’t have the same performance history as S&P index funds and may not be profitable as a result. So if you are considering investing in cryptocurrencies, you should consider Cuban’s recommendation to limit your purchase to 10% of your portfolio and choose a safer investment for the rest of your cash.

💎 Open a free account to invest in crypto!

Coin House It allows you to easily invest in crypto assets. Creating an account is free and only takes a few simple steps.

📈 Trade crypto online in just a few clicks!

eToro allows you to easily trade cryptocurrencies online. Creating an account is free and very simple.

68% of retail investor accounts lose money when trading CFDs with this provider. You have to ask yourself if you can afford to risk losing your money. eToro users in France cannot open positions to buy real crypto assets, all orders are opened as CFDs.

Unlike some financial experts, such as Warren Buffett, who are against cryptocurrencies, Cuban doesn’t think it’s a bad idea to invest his money in virtual currencies. Also read: What is Web 3.0 and how will it change the way we use the internet?. In fact, he has made it clear that he thinks it is worthwhile to take calculated risks, as millionaires and billionaires do not always hoard their wealth by taking the exact approach.

However, he also acknowledged that while he thinks cryptocurrencies are worth a shot, this asset has not been tested and carries many risks. He called crypto a “flyer” and compared it to an art collection, baseball cards or shoes. He also suggested investing money in this industry only “if you’re a true adventurer and really want to put your feet up.”

Cuban specifically mentioned Bitcoin and Ethereum as potential coins you might want to invest in, but “If you do that, you should act like you’ve already lost your money. »

Despite his warnings, Mr. Cuban owns and has invested in cryptocurrencies. societys blockchain. He is willing to put some of his own money on the line because he openly believes that virtual currencies have potential.

How much of your money should be in cryptocurrencies?

While Mr. Cuban supports crypto investments with both his words and actions, he believes that the amount of money used to buy virtual currency should be limited. On the same subject: SHIB: The top 1000 ETH whales have over $2 billion Shiba Inu..

“I will limit it to 10%,” he said. And he urged crypto investors to find a cheap index fund linked to the S&P 500 to put the rest of their money in. The S&P 500 is a financial index that tracks the performance of major US companies and is one of the safest and most reliable long-term investments.

In other words, Cuban recommends taking a balanced approach. If you want to take a chance on an untested asset like cryptocurrencies, you need to make sure you only put in money you can afford to lose and invest most of your assets in a proven low-risk option.

This advice makes sense because you shouldn’t put all your eggs in one basket, especially if that basket contains variable investments that don’t have the same performance history as S&P index funds and may not be profitable as a result. So if you are considering investing in cryptocurrencies, you should consider Cuban’s recommendation to limit your purchase to 10% of your portfolio and choose a safer investment for the rest of your cash.

💎 Open a free account to invest in crypto!

Coin House It allows you to easily invest in crypto assets. Creating an account is free and only takes a few simple steps.

📈 Trade crypto online in just a few clicks!

eToro allows you to easily trade cryptocurrencies online. Creating an account is free and very simple.

68% of retail investor accounts lose money when trading CFDs with this provider. You have to ask yourself if you can afford to risk losing your money. eToro users in France cannot open positions to buy real crypto assets, all orders are opened as CFDs.

Alm Maye has been a trader and analyst since 2013. He specializes in stock markets, Forex and cryptocurrencies. He is the creator of Almvest.com and Imveste.com, two sites dedicated to personal finance. He participates in the development of featured articles on specialized sites such as actions-boursieres.fr and the international network of Finixio.com.

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Source From: Google News

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