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Mark Cuban: Inflation Remains the Essential Reason for BTC's Rise, BTC Will Become a 'Safe Haven' for Global Funds

Mark Cuban: Inflation Remains the Essential Reason for BTC's Rise, BTC Will Become a 'Safe Haven' for Global Funds

Bitget2024/07/17 17:01

On July 18, billionaire and well-known investor Mark Cuban posted on social media that Trump's support for cryptocurrencies is good news, but it hasn't really affected cryptocurrency prices. What's driving the price of BTC is lower tax rates and tariffs, and if history is any guide, the essential reason is still inflation. Add to that global uncertainty about the geopolitical role of the US and the impact on the dollar as a reserve currency.

 

On the question of 'how high can it go', Mark Cuban says that the price of BTC will be 'much higher than thought'. Because the BTC market is global, the ultimate limit of supply is 21 million pieces?which can be fragmented without limit. As geopolitical uncertainty intensifies and the US dollar declines in size as a reserve currency, BTC will become a global 'safe haven', meaning that BTC could be something that countries and all of us will want to buy as a means of protecting our savings. That's not crazy for a country already facing hyperinflation. If things do go further than imagined, then BTC becomes a global currency.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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