Friday, June 30, 2017

While billionaire Mark Cuban rejects Bitcoin as viable, he is instead investing in new a sports betting cryptocurrency

Approximately a month ago, billionaire and former Dot Com investor Mark Cuban publicly stated that he believed Bitcoin was in a bubble, and that it eventually would fall in price as its viability for the future was unknown.  However this statement by Cuban appears to not mean he doesn't see great potential for blockchain technology, and also in other cryptocurrencies such as the one he is now investing in.

Unikoin Gold is a cryptocurrency planned to be produced on his Unikrn platform which is based on blockchain technology dedicated for sports betting.  And instead of using an ICO to help fund this operation, Cuban and others are using Crowdfunding as the means to acquire capital.

Entrepreneur Mark Cuban, who previously helped Bitcoin's value drop after calling it a "bubble," is now interested in another digital currency. And no, it is not Ethereum, but the UnikoinGold
According the Coindesk, Cuban is participating in another fundraising round of one of his portfolio companies, a sports-betting blockchain platform dubbed Unikrn, via an initial coin offering. 
An ICO is a crowdfunding method that has grown in popularity as of late among blockchain startups, with more than 30 ICOs already this year. Companies sell their own digital currencies and use the proceeds to fund their businesses
Unikrn has already raised some $10 million from investors, including Ashton Kutcher. The company allows anyone to place bets with its digital token, the Unikoin, according to Coindesk. - Fortune


Post a Comment