NBA Mavericks owner Mark Cuban tells 7.1 million fans: I'm already following Bitcoin, you should too

Bitcoin has clearly gained a lot of mainstream attention over the past few months. Many investors are now viewing the decentralized currency in a positive light, and some of them have changed their views on Bitcoin in the past.

Billionaire Entrepreneur, Shark Tank Star, NBA Mavericks Owner Changes His Mind on Bitcoin

This week, billionaire Mark Cuban changed his tune on Bitcoin, giving a thumbs up to Bitcoin to his 7.1 million followers on Twitter. Cuban is a well-known American businessman and owner of the NBA Mavericks. He has invested in many well-known companies such as Magnolia Pictures, Dropbox, and AXS Television. In addition, the billionaire investor is also one of the hosts of the famous NBC reality show "Shark Tank".

Back in 2014, Cuban told Enterpreneur magazine that he had not invested in Bitcoin. Cuban explained on Shark Tank, "No, I haven't invested in Bitcoin yet - I'm undecided about Bitcoin." He later told USA Today that he does think Bitcoin is "a great crypto technology," but that he thinks its future value is bleak. The investor explained that central banks will not allow the technology to develop as a currency.

Cuban told Enterpreneur magazine at the 2014 SXSW conference:

“As a transmission mechanism, as an accounting number transmission mechanism, Bitcoin is unique and has great opportunities in the future.”

“I don’t think Bitcoin has a chance of being a long-term digital currency.”

Cuban Now Tells His 7.1 Million Twitter Followers to Pay Attention to Bitcoin

However, Cuban has told the media that he still has not made up his mind about the technology, but his opposition to Bitcoin is not set in stone. When asked if he is considering adding Bitcoin to his portfolio, Cuban said, "We haven't - we're still waiting."

Now it seems that times have changed, and Cuban may have made up his mind about Bitcoin. On June 6, when the price of Bitcoin broke through $2,900, Cuban told his 7.1 million Twitter followers:

“I just subscribed to Inside Bitcoin, and you should too.”

However, Cuban later elaborated that he believes Bitcoin may be in a bubble.

The investor said:

“I think Bitcoin is in a bubble — I just don’t know when it will burst and how big the correction will be.”

He also said:

“I think blockchain is invaluable and will be at the core of most transactions in the future. Industries like healthcare, finance, etc. will all use this technology.”

“I’m not questioning the value of Bitcoin — I’m questioning the valuation of Bitcoin.”

Big-name investors and social media influencers are telling their fans about Bitcoin

As Bitcoin continues to receive more valuable mainstream media coverage and many well-known investors support Bitcoin more frequently. Just recently, John Bollinger, the inventor of the financial analysis indicator Bollinger Bands, mentioned Bitcoin to his 11,000 Twitter followers. In addition, professional poker player and socialite Dan Bilzerian explained to his 22 million Instagram followers that he just invested in Bitcoin last week. In addition, Mark Cuban is not the only NBA team owner who is interested in Bitcoin. According to Babbitt, Golden State Warriors owner Chamath Palihapitiya told 67,000 Twitter followers that Bitcoin, a cryptocurrency, is "the ultimate insurance strategy against authoritarianism."