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Billionaire entrepreneur Mark Cuban has been a long-term investor in cryptocurrencies, allocating space to heavyweights like Ethereum (CRYPTO: ETH) in his portfolio.
What Happened: In a podcast hosted by Delphi Digital in March 2021, Cuban heaped praise on the world's second-largest cryptocurrency.
He notably mentioned its versatility and technological advancement, features which eventually drew him into the asset. "I wish I had bought it sooner, but I started buying it four years ago, simply because I think it's the closest we have to a true currency," Cuban stated.
When Cuban made these bullish remarks, one Ether was valued at $1,716. So, if you invested $1,000 then, it would have fetched you 0.58 Ether.
See Also: Arthur Hayes’s Maelstrom Fund Unveils Grant Program To Boost Bitcoin Development: ‘As Loyal Followers Of Lord Satoshi, We Are Doing Our Part’
That seems a long time ago. The cryptocurrency ballooned to its all-time high of $4,878 later in 2021, faced a painful winter in 2022, and made a spirited recovery in 2023-24.
As of this writing, one Ether is priced at $3,449.26. Therefore, 0.58 ETH will be worth $2,000 today, nearly doubling in value.
Why It Matters: Ether has been on a strong recovery path this year, jumping 51% year-to-date. Its YTD gains have mirrored that of the apex cryptocurrency Bitcoin (CRYPTO: BTC).
A big part of the boost has come from the approval of exchange-traded funds that will track the price of the asset in real-time. The ETFs are likely to begin trading by next week, giving mainstream investors a convenient way to get exposure to the cryptocurrency.
Note that as of today, Mark Cuban just holds 0.026 Ether, worth $88.11 in his portfolio, according to data from Arkham Intelligence.
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