Mark Cuban Wants Bitcoin Price to Go Down so that He Could Buy More

cryptonews.com:

American billionaire entrepreneur Mark Cuban continues to remain bullish on Bitcoin, saying that he even prefers investing in the digital asset over gold.

The TV personality stated that he plans to buy more BTC when its price drops. “I want Bitcoin to go down a lot further so I can buy some more,” Cuban said in an interview with American comedian and talk-show host Bill Maher.

The statement comes as the flagship cryptocurrency has seen a nice run-up to $24,655.94, a level not seen in more than six months, despite increasing regulatory scrutiny from the U.S. government. The coin is currently trading around $24,500, up by more than 10% over the past day. 

The Shark Tank star and Dallas Mavericks owner also took a shot at gold owners, claiming that if "you have gold, you're dumb as f—.” While Maher argued that gold “is like a hedge against everything else,” Cuban disagreed, saying:

“[Gold] is not a hedge against anything, right? What it is is a store of value and you don't own the physical gold, do you … Gold is a store of value and so is Bitcoin."

He also mentioned that gold doesn't protect wealth in times of crisis. “You don't own the gold bar, and if everything went to hell in a handbasket and you had a gold bar, you know what would happen? Someone would beat the f— out of you or kill you and take your gold bar," the crypto advocate said. 

Traders betting against the crypto market have suffered more than $200 million in losses over the past 24 hours as major cryptocurrencies surged higher in one of the most impressive rallies in about a year. 

According to data by CoinGlass, Bitcoin-tracked futures experienced $84.7 million in short liquidations over the past day while Ethererum-linked futures saw over $52 million in