Mark Cuban Hints at Running For US Top Office If Bitcoin Price Attains $1 Million Mark

 

The cryptocurrency market has picked an uptrend momentum during the holiday seasons and is still surging in this new year. Bitcoin Supreme, the biggest traded cryptocurrency, has performed better among other digital assets recording an all-time high. The current price surge of Bitcoin has mainly been propelled by institutional demand and many prominent investors seeking alternatives for a store of value of their assets.

Mark Cuban, a multimillionaire, and investor is the latest prominent figure to back the digital coin. Responding to Chamath Palihapitiya, Cuban hinted he would contest for the US top office when the price of Bitcoin hits $1million. Considering that Bitcoin’s total supply stands at 21 million, the digital coin attaining the $1 million mark would place the dominant cryptocurrency by market share farther ahead of the gold $10 trillion market share.

100 Satoshis For Each American When Cuban Wins the Presidential Race

Cuban disclosed his White House ambitions in reply to Chamath Palihapitiya’s tweet, saying that he will contest the US top office when Bitcoin edges $1 million. He further added that they could secure pledges to contribute 350 Bitcoin to the US treasury every 4 years to ensure Americans obtain 1 satoshi per year and ought to hold the digital asset for a decade.

Cuban afterward adjusted his calculations as per his suggestions to around 100 satoshis for every citizen. Cuban is also a Shark Tank investor. His remarks were addressed to a tweet by Palihapitiya’s’ call to install a renowned third-party among the US political arena before 2030.

In the past couple of years, Cuban’s position about the digital coin seems to have changed, though the multimillionaire support towards the coin fell short entirely. In December 2019, the investor brushed off concepts that Bitcoin may eventually turn into a dependable digital coin. The investor also raised the bar claiming that it seemed relatively simpler to exchange bananas than digital assets back in 2019.

Meanwhile, the NBA investor has retraced his views terming digital coin as a case for a thriving asset distribution mechanism. During those days, the investor criticized businesses and large firms for watering down their asset worth by engaging in a vicious cycle of share issuance.

The excellent news is Dallas Mavericks, Cuban’s NBA Franchise, allows payouts in Bitcoin, but as per Cuban, the payout method is yet to draw substantial support. Moreover, although he is not an enthusiast for the digital coin as money, the investor has embraced the concept that Bitcoin can be an alternative assets’ store of value.

Bitcoin at $1 million

For the asset to hit $1 million before the next US election in 2024, the price of Bitcoin needs to rise by over 2800 percent regarding the latest market estimates.

As per Bitcoin- stock- to-Flow Model, the digital coin is on course to hit a new historic level of $50,000 before the end of the current year towards attaining a $1 million price tag. 

Although objections have been raised, the Stock-to flow model has progressed to monitor the price of Bitcoin by a top accuracy rate.

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