Monday afternoon, Marco Cubano invited its 8.8 million X (ex-Twitter) followers for a spontaneous Ask Me Anything (AMA) session.
Here are his best cryptocurrency-related answers.
“Are Mavs still accepting Dogecoin?”
“Yes” was the simplest thing answer. In 2021, the Dallas Mavericks of Cubans began to accept Dogemoneta DOGE/USD as a payment method.
Of course, if you had invested in Dogecoin when the Mavs started accepting it, you’d be pretty comfortable now.
“Do you like my printer?”
To this ironic question from the parody profile of the president of the Federal Reserve Jerome PowellCuban responded with a terse “Go Brrr.”
Cuban has previously questioned whether the Federal Deposit Insurance Corp., or FDIC, website would be able to handle the traffic after the Fed steps in to protect depositors in March 2023.
“What do you think of the dogwifhat meme? Are you with us?”
Cuba’s response: “I don’t think about it.”
Unlike many other cryptocurrency investors, Cuban seems unimpressed by the surge in interest Solana SOL/USD memecoin like Dogwifat.
“Are NFTs a scam or do they have real use cases/value?”
Cuban is a longtime NFT connoisseur and has talked about some pretty obscure NFT-related creator dramas in the past.
His response to this question: “They are collectibles in most cases, but they can be used for other things. Buy them only to use or collect. Not to speculate.”
This goes against their empirical use case so far, which has mostly been tied to speculation. But Cuban might just be ahead of the curve here.
“What do you think about music NFTs???”
Cuban wasn’t convinced about this specific use case: “Hard to sell. Haven’t found a compelling look yet.”
This says something coming from Cuban, who didn’t even abandon cryptocurrencies after his wallet was hacked.
“Favorite crypto project outside of Bitcoin and ETH?”
Cuba likes “Polygon and Injective, I’ll invest in both. DYOR.”
Polygon MATIC/USD rose 3% on the day and Injective INJ/USD it is growing by 6.5%.
“Your biggest crypto/NFT stock and what your belief is about it.”
Cuban’s portfolio is quite conservative for an experienced cryptocurrency investor: “BTC/ETC/MATIC/INJ but this is not a recommendation. Just an answer.”
Surprisingly enough, Dogecoin is not present in his wallet.
“Thoughts on on-chain finance in 2024?”
Cuban is famously an investor in decentralized finance, but he’s not thrilled with his current situation: “I think we need new ideas with more utility.”
Presumably, new ideas with greater utility would ensure that Cubano doesn’t end up on the wrong end of another knockdown.
“Is DeFi the future of finance?”
It’s no surprise that Cuba has cooled the prospects for decentralized finance: “I hope so. But it’s not going in that direction.”
However, the Mavericks owner still thinks that DeFi can be an alternative to traditional finance.
“As someone who has experience in both traditional finance and cryptocurrencies, what is your opinion on real-world assets?”
“It’s going to be a tough sell,” according to Cuban. This goes directly against it Larry FinkThe bullish prediction that all assets will eventually be tokenized.
“What are your thoughts on cryptocurrencies?”
Cuban’s opinion probably reflects that of many retail investors: “I hate speculation but I love when there is utility.”
Until cryptocurrency is explained to grandmothers, Cuban may not be inclined to change his opinion.
Read next: Forget GameStop stock, now there’s a GameStop memecoin and it’s worth millions
Photo: Gage Skidmore via Flickr Creative Commons