Billionaire Mark Cuban Says This Asset Class Will Be the New Crypto. Here's Why He's Wrong.
The key to valuing Bitcoin is its inherent scarcity, which has led to outsize returns over the past 15 years.
Overview
In May, billionaire investor Mark Cuban sold off nearly all his Bitcoin (CRYPTO: BTC), declaring that it had failed as a hedge against inflation. At the time, Bitcoin was down approximately 40% from its all-time high of $126,000 in October.
Now Cuban's back with another bold statement about crypto: "Chips as an asset class will be the new crypto." In other words, raw computing power -- in the form of advanced semiconductor chips for artificial intelligence -- now offers investors the potential for significantly higher returns than crypto going forward.
Details
The premise is clear: Move your money out of Bitcoin and into GPU compute, because that's where the future is. So is Mark Cuban right?
Source
Originally published at www.fool.com.