Billionaire Shark Tank investor Mark Cuban has shared his idea of what he will do when the price of bitcoin hits $1 million. Cuban says he will run for president but only if some bitcoins are donated to the Treasury so that every citizen receives some satoshis each year he is in office. He will require them to hold onto the coins for 10 years.
Mark Cuban Envisions Running for President When Bitcoin Hits $1 Million
Shark Tank star Mark Cuban tweeted about bitcoin and the U.S. presidential election Tuesday in reply to a thread started by the Virgin Galactic chairman Chamath Palihapitiya. The owner of the National Basketball Associationâ€™s (NBA) Dallas Mavericks wrote:
The Shark Tank star initially tweeted â€œ1 satoshiâ€� but subsequently made a correction, stating, â€œthatâ€™s 100 satoshis per citizen per year.â€� One bitcoin is equivalent to 100 million satoshis.
Palihapitiya started the thread on Twitter, stating: â€œThere will be a viable third political party in the US by 2030. Centrist, pragmatic and cuts through the bullshit. The current system is so broken, you can only support it through a combination of willful blindness and stupidity.â€� Cuban replied: â€œWhy do we need political parties at all?â€� Palihapitiya responded with â€œprobably wouldnâ€™t if you would runâ€¦â€�
Comments flooded the thread with many people cheering for Cuban to really run for U.S. president in 2024. Some commenters suggested that either Palihapitiya or the pro-UBI Andrew Yang could be the vice president.
The Virgin Galactic chairman has long been pro bitcoin. He repeatedly said that the price of bitcoin could go to a million dollars and everyone should own some BTC, advocating having at least 1% of portfolios in the cryptocurrency. Palihapitiya himself has a plan when the price of bitcoin reaches $150,000. He tweeted on Dec. 30:
When BTC gets to $150k, I will buy The Hamptons and convert it to sleepaway camps for kids, working farms and low-cost housing.
Cubanâ€™s opinion of bitcoin was not always positive. He previously stated that he would â€œrather have bananas than bitcoin,â€� emphasizing that he could at least eat a banana. In December, Cuban started showing an incremental growth of appreciation for the cryptocurrency, arguing that bitcoin was â€œa store of value like goldâ€� but added that it â€œis more religion than solution to any problem.â€� Then his Dallas Mavericks started offering merchandise discounts for customers paying with bitcoin.
What do you think about Mark Cubanâ€™s bitcoin plans? Let us know in the comments section below.
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