Ether, Ethereum’s native cryptocurrency, hit another all-time high of $ 4,634 on Wednesday, according to CoinGecko. In terms of growth, the price of ether this year far outperformed Bitcoin, the largest cryptocurrency by market value.
It also has some well-known fans, including billionaire Mark Cuban.
“I have my fair share of Bitcoin, but I’m more of an Ethereum maxi,” Cuban said on a recent episode of the Next with Novo podcast. In the crypto space, calling someone a “maximalist” of a particular coin usually has a negative connotation, but Cubans uses the term to show that they prefer Ethereum over other blockchains.
For Cuban, Ethereum is characterized by its usefulness. Not only is Ethereum the most widely used blockchain, but its smart contracts, which are collections of codes, power most blockchain-based projects, from decentralized finance or DeFi applications to non-fungible tokens or NFTs.
“We are experiencing an onslaught with many different blockchains competing,” said Cuban. “When they start using smart contracts, we’ll find that things really level off. It will depend on applications and integrations. “
Cuban previously said that Ethereum’s smart contracts “really changed everything” in the crypto space.
“I like [ether] more [than bitcoin] because I can see an unlimited number of uses that will change the business [and] Consumer world forever, ”Cubans tweeted on October 16. “And to use it, you have to buy [ether]. “
Cuban is still investing in other cryptocurrencies, including Bitcoin, Dogecoin, and other altcoins. He also owns NFTs and many blockchain companies.
But “as an investment, I think Ethereum has the greatest advantage,” Cuban previously told CNBC Make It. He sees Bitcoin more as a store of value and an alternative to gold.
However, despite Kuban’s approval, it’s important to remember that all cryptocurrencies come with risk because of their volatile and speculative nature. Financial experts warn that investors should only invest what they can afford to lose.
Join Now: Get smarter about your money and career with our weekly newsletter
Do not miss: