Billionaire Mark Cuban shared his stance on the current bearish situation of the crypto market and noted that the majority of the altcoins project will get out forever.
Mark Cuban is an American billionaire entrepreneur, Shark tank personality, and media proprietor. The current net worth of this company is $4.7 billion. Cuban has been active in the crypto industry for a few years and he keeps analyzing innovative and better crypto projects to invest, instead of following hype or information on behalf of news media platforms.
Shark Tank star Mark Cuban recently appeared in an interview with Fortune. Through the interview, Cuban emphasized that cheap crypto assets, or say altcoins, will disappear. Cuban claimed that there are many businesses in the crypto and stock industry, which work under a bad business model.
“In stocks and crypto, you will see companies that were sustained by cheap, easy money – but didn’t have valid business prospects – will disappear. Like (Warren) Buffett says, ‘When the tide goes out, you get to see who is swimming naked.”
However, the current situation of the crypto industry is not good but still, Shark tank star said that innovative & better projects will still break through.
“If rates go up, it will struggle till it’s priced in. The exception, as with stocks, is for new, game-changing applications.”
Cuban emphasized the significance of the current market situation and claimed that all the projects in the Stock & crypto industry will grab better success in the future even launch in a bear market situation, even if they will be based upon better business model.
Besides these things, Cuban said that crypto & stock markets are now correlated with each other and both of these two markets will struggle when the US Federal Reserve will increase interest rates.
Earlier, Cuban said that the market will get better advantages because of the inflow of the developers and their efforts to work on development to solve the practical life problems.