Shark Tank entrepreneur, investor and Dallas Mavericks owner Mark Cuban has made new predictions about the future of the cryptocurrency industry.
As a seasoned investor and cryptocurrency enthusiast, Mark Cuban does not see a future for all the projects that exist in the industry.
In fact, the Ethereum maximalist believes that only those projects that implement innovative technologies and bring true value and utility to the market are the ones that will survive the delicate moment that cryptocurrencies are currently going through.
Cryptocurrency projects without prospects could disappear
During a interview Granted to Fortune, Cuban recalled what Warren Buffett, considered one of the world's greatest investors, once said: “Only when the tide goes out, you can see who is swimming naked”Cuban quoted the phrase to refer to the difficult circumstances in which cryptocurrency projects are developing and which could lead many of them to their disappearance.
According to Cuban, those with few future prospects, which were sustained by “cheap and easy money,” have no chance of surviving, while those cryptocurrency projects with disruptive prospects will survive and drive even more innovation in the crypto space.
Cuban's predictions apply to companies operating in the cryptocurrency market as well as those in the stock market or any other business, the investor noted.
There will be room for cryptocurrency companies that add value and change the game
“The exception, as with stocks, is for new, game-changing apps.”
So, despite the negative sentiment surrounding the cryptocurrency market at present, caused by the collapse of Terra, the closure of Celsius and the threat of insolvency of Three Arrows Capital, Mark Cuban sheds some light for the future of companies and applications with solid foundations and valuable concepts that drive change in the crypto market.
Last week, Mark Cuban pointed out that the performance of his technology stocks It had been worse than their investments in cryptocurrencies, despite the huge drop that these digital assets have suffered in recent months.
Cuban’s crypto investment basket is made up of “a lot” of Ethereum and Polygon, two of the most important cryptocurrencies on the market that he considers innovative and disruptive due to their many use cases and applications. Dogecoin is also part of Cuban’s investment portfolio, although in a smaller amount.
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