Meanwhile, the cryptocurrency market has enemies like it has supporters. The blockchain space is power-intensive and mining cryptocurrencies relies on excessive energy consumption. Dislikers of Bitcoin and other digital currencies argue that this is a massive detriment of cryptos since it negatively impacts the environment.
However, Cuban believes that there is a potential for carbon offsets using blockchain applications and tokens. The billionaire added, “I’m already talking to all of my companies that can create carbon offsets and discussing whether they can start monetizing them.”
The idea of monetizing carbon offsets is still in its infancy. Similar to other kinds of investments, experts recommend running thorough research before buying them. On the other hand, experts recommend people — who want to invest in cryptos — to only invest what they can afford to lose.
Cuban is an avid investor in the crypto space, with a cryptocurrency portfolio of various digital coins, NFTs, and investments in many blockchain companies.
