Many people know Mark Cuban as one of the most successful investors in the world. You may have seen Cuban on a panel of investors starring in the television show Shark Tank. Mark Cuban has always been more than hesitant to invest in the world of cryptocurrency. In this post, you will learn what Cuban decided to back and what this investment says about the future of Bitcoin.
Cuban is backing a venture known as 1confirmation which was founded by a man named Nick Tomaino. Nick was the former head of business development for Coinbase, another cryptocurrency related company. Coinbase recently announced that it had raised nearly $100 million in private funding. Cuban had recently sent out a series of tweets suggesting his future plans regarding Bitcoin. It appeared as if Cuban was on the fence about this form of currency. News of his recent investment shows that Cuban is fully invested in Bitcoin.
Mark Cuban isn’t the only investor backing 1confirmation. CNBC reports there are many important investors from the technology industry backing this venture including Brendan Eich and David Vorick. Many people have been waiting for Bitcoin to have a banner year. In 2017, Bitcoin has quadrupled in value and features a nearly $74 billion market capitalization value. It’s likely that hearing news of Cuban’s recent investment will have much more people interested in Bitcoin. Many people feel that the recent numbers show the future of Bitcoin to be highly valuable.
In summary, the world of Bitcoin has seen an astronomical rise in popularity. One indication of how great the future of bitcoin looks comes from a world famous investor. Mark Cuban is set to invest $20 million in cryptocurrency by backing 1confrimation. This new venture is backed by a wide range of experts in the world of investing and technology. Many feel that bitcoin is set to revolutionize the way people use currency in the near future.