Ethereum
If You Invested $1,000 In Ethereum When Mark Cuban Said It Was The Closest Thing To A ‘Real Currency,’ Here’s How Much You’d Have Today
If You Invested $1,000 In Ethereum When Mark Cuban Said It Was The Closest Thing To A ‘Real Currency,’ Here’s How Much You’d Have Today
Billionaire Entrepreneur Marc Cuban is a long-term investor in cryptocurrencies, allocating space to heavyweights like Ethereum (CRYPTO: ETH) in his wallet.
What happened: In a podcast hosted by Delphi digital In March 2021, Cuban praised the world’s second-largest cryptocurrency.
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He particularly mentioned its versatility and technological advancement, characteristics that ultimately attracted him to the asset. “I wish I had bought it earlier, but I started buying it four years ago, simply because I think it’s the closest thing to a real currency,” he added. Cuban said.
When Cuban made these optimistic remarks, one Ether was worth $1,716. So if you had invested $1,000 at the time, you would have gotten 0.58 Ether.
It seems like an eternity. The cryptocurrency hit its all-time high of $4,878 later in 2021, faced a painful winter in 2022, and staged a vigorous recovery in 2023-24.
At the time of writing, one Ether is worth $3,449.26. Therefore, 0.58 ETH would be worth $2,000 today, almost double its value.
Why is this important: Ether has staged a strong rally this year, surging 51% year-to-date. Its year-to-date gains mirror those of the flagship cryptocurrency Bitcoin (CRYPTO: Bitcoin).
Much of this increase came from the approval of exchange traded funds which will track the price of the asset in real time. The ETFs are expected to begin trading next week, offering traditional investors a convenient way to gain exposure to the cryptocurrency.
Note that as of today, Mark Cuban only holds 0.026 Ether, worth $88.11 in his wallet, according to data from Arkham Intelligence.
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This item If You Invested $1,000 In Ethereum When Mark Cuban Said It Was The Closest Thing To A ‘Real Currency,’ Here’s How Much You’d Have Today originally appeared on Benzinga.com
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