A podcast featuring the billionaire investor, Cardano, shared his views on market caps, Cardano’s inability to adopt, and Dogecoin. Mark Cuban is a billionaire entrepreneur and star on ABC’s Shark Tank. He joined the Altcoin Daily Podcast to have an hour-long conversation all about crypto.
Cuban discussed the differences between Cardano decentralized application platform and Dogecoin to determine which one has the greatest potential.
Cuban stated, “You know, I have the same thoughts about Cardano as they are about Polygon or Ethereum.” “There has to be a there, then.”
Cuban said that he considers the number of transactions on a Blockchain a sign of success. He said that he didn’t expect people to use [Cardano] as much in Africa because they don’t see transactions and don’t see fees.
According to the Dallas Mavericks owner and crypto champion, Cardano is still using smart contracts. However, Cardano doesn’t see much of an impact.
Cuban believes that Cardano could become the next great application everyone uses. He said that although the door is open for this to happen, it hasn’t yet.
Cuban was asked by the podcast host what advice he would offer Charles Hoskinson, Cardano’s co-founder, if he appeared on “Shark Tank.”
Cuban responded, “I say, “Where are your revenues?”” Cuban added, noting that crypto does not mean that revenues are an afterthought.
He continued, “There is a distortion in crypto called marketcap.” You have a small floating price, so you can get the price up enough to make it a billion. It can be made a $10 token and you will have a total market cap of $10 billion.
Cuban stated that the problem with distorted market caps does not only affect Cardano. He also noted Dogecoin’s $9.3 Billion market cap and Shiba Inu’s $6.7 Billion market cap according to CoinMarketCap.
Cuban stated that DOGE still has more potential applications than Cardano, and added that Cardano’s opportunity is greater, at least until Dogecoin becomes an application platform.
He said, “It’s still business.” “No matter what you do or say, how you position it or what your market capital is, there must be at least some there.