Mark Cuban Not Hopeful About Facebook’s Libra
By Jamie Green – Crypto Expert
In an interview with CNBC, billionaire entrepreneur and owner of the Dallas Mavericks basketball team, Mark Cuban, believes Facebook's cryptocurrency Libra is a big mistake.
Cuban made several comments about Facebook's cryptocurrency endeavors by saying:
“I’m not a big fan of what they’re doing there”, and also went on to state, “I think it’s a big mistake.” Cuban appears more worried about the international impact that Libra will have instead of its impact in the United States.
According to the report and as any user around the world can buy and sell cryptocurrency, he believes that “globally and in countries where there isn’t a lot of rule of law, or a lot of government stability, or currency stability, then it could be dangerous.”
Cuban also believes that problems could occur when a country potentially loses control of their currency as the residents could buy and sell Bitcoin or another crypto, they do not control. Two years prior to this, Cuban said that he planned to invest in his own cryptocurrency after calling Bitcoin a bubble.
This skepticism about Libra interestingly comes right after US President Donald Trump voiced good displeasure against those buying and selling Bitcoin and the yet to launch Libra, as well as crypto in general. Brain Armstrong, Coinbase CEO felt that Trump needed to discredit cryptos because it fuels the narrative that it's independent of global powers and that it can't be touched by them.
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