The American billionaire entrepreneur and television personality, Mark Cuban, has waged a bet with Creative Planning’s founder Peter Mallouk over the performance of cryptocurrencies versus the S&P 500. Cuban said on Twitter that the two should put $1 million into a stablecoin-based smart contract, in order to place a bet over the return performance of either ethereum or bitcoin in ten years against the Standard and Poor’s 500 index.
Mark Cuban Backs His Statements With a $1 Million Bet With Peter Mallouk
One of the investors on the ABC reality television series Shark Tank, Mark Cuban has been talking about cryptocurrencies a lot lately, and recently the billionaire told Ellen Degeneres about the potential of dogecoin (DOGE). Being the owner of the National Basketball Association’s (NBA) Dallas Mavericks, Cuban now has the Mavs accepting digital currencies for goods and services.
Just recently, however, Peter Mallouk the founder of Creative Planning, a financial management group, said that people listening to Cuban’s dogecoin tweets are not too intelligent.
“So many people are going to lose so much money listening to this. Straight out of Dumb and Dumber,” Mallouk stressed in his tweet. “If you buy a hundred stocks, odds are most go up. If you buy a hundred cryptocurrencies, most will go to zero. Big difference,” the Creative Planning founder added.
Cuban then replied to Mallouk’s tweet saying:
if (!window.GrowJs) { (function () { var s = document.createElement('script'); s.async = true; s.typeOnly a fool would buy 100 stocks or 100 crypto assets. But let me ask a question. What rights do you have as a shareholder in any public company stock you have bought?
