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Bitcoin’s price, which is up roughly 80% from the same period last year, has surpassed $42,000, with Bitcoin part of a Wall Street push into cryptocurrencies, while Ethereum is up 40%.
Now, after Tesla billionaire Elon Musk revealed his crypto holdings, fellow billionaire and Shark Tank star Mark Cuban has revealed the two small cryptocurrencies he’s recently bought.
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“Polygon and injective,” Cuban, who warned last year that the next bitcoin and cryptocurrency crisis could be imminent, posted on X in a “ask me anything” thread when asked about his favorite cryptocurrencies besides bitcoin and ethereum. “I’m an investor in both,” he added, reminding other people that they “do their own research” before investing, but that he hopes they “succeed. “
Polygon, the 14th largest cryptocurrency by market capitalization that’s added 60% since October, according to Forbes data, is designed to help ethereum scale by easing its high transaction fees and slow processing speeds.
Injective, which is ranked 27th by market cap, is connected to decentralized crypto exchange Injective. In 2021, Cuban made “a strategic investment in Injective,” according to a TechCrunch report. The value of the injection has increased by 1,100% over the last year.
Cuban, who proved that the NBA team Dallas Mavericks he previously owned still accepted dogecoin, has been experimenting with cryptocurrencies and decentralized finance (DeFi) since becoming a crypto convert. He said in 2019 that he would have “bananas instead of bitcoins. “
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Bitcoin’s value has skyrocketed over the past year, which has helped spur a rally in the cryptocurrency market that has. . . [ ] boosted the value of Ethereum, Polygon, and Injective.
In June 2021, at the height of the Covid-era bitcoin and cryptocurrency craze, Cuban lost an unspecified amount in what he called a “rug pull” after the implosion of a so-called algorithmic stablecoin allocation called Iron Finance.
On Threat X, Cuban also weighed in on nonfungible tokens (NFTs), advising other people to “buy them just to use or collect them, not to speculate,” and said he was skeptical of plans put forward through corporations like Wall Street. the giant Blackrock to symbolize real-world assets on blockchains.
“It’s going to be a sale,” Cuban posted.