Mark Cuban Says Building Blockchain Apps With Better Utility Could Push Cryptos Higher Again

Mark Cuban
Mark Cuban

Mark Cuban, the billionaire Shark Tank star, said the crypto bear market won’t come to an end until there’s a better use for blockchain applications.

He added he doesn’t think the market has reached “cheap” prices yet.

Cuban has said in the past around 80% of his non-Shark Tank portfolio was in crypto. Appearing on a June 23 episode of the Bankless Podcast, he was asked how long he believes the current crypto bear market will last:

“It lasts until there’s a catalyst and that catalyst is going to be an application, or we get so low people go ‘fuck it I’ll buy some.’”

He said that a better focus on applications with utility will pull crypto from the bloodbath and with so many apps focused on financial technology or collectibles, the launch of a business-focused application could spark a reversal for markets.

Pointing to the example of a “decentralized version of Quickbooks,” a small business accounting management software, Cuban predicted a rush of users if something like that launched.

Despite analysts predicting that Bitcoin (BTC) as well as many other cryptocurrencies have hit a price bottom, Cuban says “it’s not cheap yet” when analyzing the high market capitalization of some projects: