Mark Cuban is betting $1 million that Amazon and Netflix will best the S&P 500 over 10 years – and another $1 million on crypto to do the same

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

Billionaire Mark Cuban is so confident that his two favorite stocks and the top cryptocurrencies will outperform the S&P 500 index over the next decade, that he’s willing to bet $2 million on that outcome.

The “Shark Tank” investor and Dallas Mavericks owner has agreed to a pair of wagers with Peter Mallouk, the CEO of Creative Planning, a wealth-management firm.

Cuban tweeted he will stake $1 million on a 50-50 split of Netflix and Amazon stock beating the benchmark over the next 10 years. He will bet another $1 million on Mallouk’s choice of either bitcoin or ethereum doing the same. Mallouk will bet on the S&P 500 in both cases.

The two men agreed to make the two bets this week after butting heads over the value of a diversified portfolio and the long-term viability of cryptocurrencies.

The argument was sparked by Mallouk criticizing Cuban for promoting dogecoin, then predicting that 99% of cryptocurrencies will end up worthless, and touting stocks...read more...