Billionaire and Cryptocurrency Advocate Mark Cuban Buys Entire Town In Texas
Billionaire and NBA team owner Mark Cuban bought the entire town of Mustang, TX.
The town is 77 acres large and holds a population of 21. Talking with The Dallas Morning News, Cuban said he is unsure what he will do with the property: “I don’t know what if anything I will do with it.”
CNN Business reported:
The town was founded in the early 1970s, when it was known mostly as a local watering hole in an otherwise dry Navarro County, according to the paper. These days, there’s little more than a trailer park and a strip club, Wispers Cabaret, which is reportedly in disrepair. On Friday, Google Maps showed the name of the club had been edited to “Mark Cubaret.” …
Nearby attractions? Well, you’ve got Dallas about 45 minutes north. And history buffs with a penchant for cult lore will be pleased to find that the city of Waco is just over an hour’s drive southwest of Mustang. And just two miles from Wispers, there’s “Navarro County’s first and only vineyard and winery,” Angelita (which honestly looks super cute).
Another notable investment in Cuban’s wide portfolio is Bitcoin. Back in June, Cuban tweeted, “BTC is digital gold. It wins that use case. Every other platform from Eth to you name it will win or lose based on their user base. Over time, as happened with tech stocks, people will understand the valuation metrics of networks/platforms and invest based them.”
He added, “Crypto outperforms stocks not just on transparency, but by allowing tokens to share all the economics with holders. Revenues always get to holders, not to retained earnings. That’s huge. The economics of apps and innovation are far better for entrepreneurs and investors.”
Crypto outperforms stocks not just on transparency, but by allowing tokens to share all the economics with holders. Revenues always get to holders, not to retained earnings. That's huge. The economics of apps and innovation are far better for entreprenuers and investors.
— Mark Cuban (@mcuban) June 21, 2021
In another Twitter thread, Cuban supported NFTs, “Will some fail. Of course. Will there be fraud. Yep. But over time the apps will get better, there will be greater network effects and UI/UX will make it easy for anyone to participate and understand. When Textbooks are NFTs and kids know its better than physical books and the used book market, they will go to the platform that is the path of least resistance. The challenge for all networks/platforms is how big does the early mover advantage get?”
When Textbooks are NFTs and kids know its better than physical books and the used book market, they will go to the platform that is the path of least resistance. The challenge for all networks/platforms is how big does the early mover advantage get ?
— Mark Cuban (@mcuban) June 21, 2021
Earlier this year, Cuban was very vocally supportive of Reddit users putting lots of money into the stock market to make certain stocks short squeeze. “I got to say I LOVE LOVE what is going on with #wallstreetbets. All of those years of High Frequency Traders front running retail traders, now speed and density of information and retail trading is giving the little guy an edge.”
I got to say I LOVE LOVE what is going on with #wallstreetbets. All of those years of High Frequency Traders front running retail traders,now speed and density of information and retail trading is giving the little guy an edge. Even my 11 yr old traded w them and made $
— Mark Cuban (@mcuban) January 28, 2021
In an interview with CNBC, Cuban said that “As someone who’s shorted stocks many times… you know exactly what you’re getting into, and you know exactly what the risks are.”
