Beyond 'Shark Tank', Mark Cuban Says 80% of His New Investments Are in Crypto

Comedian and former "Daily Show" host Jon Stewart says Dallas Mavericks owner and billionaire Mark Cuban offers a practical analysis of the intricacies of the crypto space.

Cuban told Stewart on Thursday's podcast that he isn't concerned with the price speculation surrounding cryptocurrencies like bitcoin and dogecoin, likening it to a "gimmick" similar to stocks. The Dallas Mavericks owner explained to Stewart some of the basics of the crypto space, calling it "decentralized and trustless," with token holders having "consistently equal voting rights" to determine the direction of each project. -- these characteristics attracted the billionaire investor.

"The investments I'm making now are not in traditional businesses. Eighty percent of the non-Shark Tank investments I'm making are in crypto or around cryptocurrencies," Cuban said.

Cuban theorized how a decentralized autonomous organization (DAO) could provide colonoscopies and other necessary medical procedures. He also believes that many new businesses modeled on the crypto economy — decentralized and trustless — will disrupt traditional institutions such as banking, insurance and the book industry.

“It’s 1995 for cryptocurrencies,” Cuban said, referring to the fact that the industry is still in its early days similar to the internet:

“[Cryptocurrencies] are hard to understand and cumbersome, but a decade from now, these applications — there will be successful ones — will create their own economies, just like the Internet age, with innovative young generations will be the first to discover it."

The "Shark Tank" star's stance on crypto assets has shifted notably over the past few years, having said that he would "rather own bananas" than own gold or bitcoin. The billionaire investor has backed Polygon, investing hundreds of thousands of dollars in tokenized carbon offsets and calling for more regulation of stablecoins.

Stewart hinted at a better understanding of the field as a technical and economic problem rather than one consisting entirely of monetary systems, but he remained concerned about leaving decisions to any group. The comedian previously joked about launching a token project of his own name:

If you liked this "website", you'll love my next project too. Crypto "Stewcoin"!

— Jon Stewart (@jonstewart) December 16, 2021

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