‘Shark Tank’ star Mark Cuban compares Bitcoin boom to dot-com bubble, and warns many cryptocurrencies won’t survive the coming crash

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

Steve Jennings/Getty Images Mark Cuban compared the cryptocurrency boom to the dot-com bubble, recommended buyers hedge their bets, and warned them about the dangers of debt in a string of tweets this week."Watching the cryptos trade, it's EXACTLY like the internet stock bubble," the "Shark Tank" star and billionaire owner of the Dallas Mavericks said. Cuban sold his startup to Yahoo in 1999 and managed to protect his billion-dollar windfall when the market crashed a few months later. "My advice? Learn how to hedge," he tweeted."If you are taking on debt that you can't afford to pay back to invest in crypto (or stocks or currencies), YOU ARE A FOOL and there is a 99% chance you will lose EVERYTHING," Cuban added.Visit Business Insider's homepage for more stories. Billionaire investor Mark Cuban compared the Bitcoin boom to the dot-com bubble in a flurry of tweets this week, predicting a large number of cryptocurrencies won't survive the coming crash. "Watching the cryptos trade, it's EXACTLY like the internet stock bubble," the "Shark Tank" star and Dallas Mavericks owner said. The cryptocurrency market recently achieved a $1 trillion market capitalization for the first time, as Bitcoin and other digital coins more than quadrupled in ...read more...