"Don't fight, it seems that BTC and gold have their own advantages."
The owner of the Dallas Mavericks basketball team and famous investor Mark Cuban bought some Bitcoin (BTC) despite the current uncertainty of the cryptocurrency market.
Cuban said that gold is not as safe as BTC as buyers don't actually own the bars so their status as owners of the precious metal will always be in question.
The streak, in which other investors are scared, instead Cuban wants the price of BTC to plunge further so that he can invest more in the digital asset.
During an interview with Bill Maher, Cuban also stated that gold will not protect the wealth or portfolio of buyers during a crisis, adding that gold holders are 'stupid' as it is not a hedging asset.
Investments in BTC over the past few months have been increasing due to the current state of the banking system in the United States (US).
Explained further, most traders became interested in speculative assets like BTC after Silvergate Bank, Signature Bank and Silicon Valley Bank (SVB) experienced drastic overnight collapses.
Following that, Cuban believes that BTC will climb higher in the future even though the price of the digital asset is still recording a loss of 1.46% at $27,342 in the past 24 hours.
