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Right now, Bitcoin is worth $13,609, at time of publication. With Bitcoin being so explosive right now, everyone is asking if they should invest in the digital currency or if it is too late. The Winklevoss Twins are enthusiastic about the cryptocurrency and are the world’s first Bitcoin billionaires. Everyone has an opinion on the promising, yet volatile cryptocurrency including Mark Cuban. The billionaire investor has one rule for investing in Bitcoin.
Six months ago, Cuban said that there is a Bitcoin bubble. And on Wednesday Cuban talked more about the erratic cryptocurrency. “It’s still very much a gamble,” Cuban said of cryptocurrencies in an interview with MONEY. “It could go to $15,000 or zero and maybe both on the same day.”
The Shark Tank host gave one piece of advice if you do want to invest in cryptocurrencies. “If it’s money you need to depend on and can’t afford to lose, don’t do it,” Cuban said of investing in cryptocurrencies.
“If you have money you can gamble with, then it’s worth taking a shot.” Cuban subscribes to his own investing strategy. Cuban said he has bought Bitcoin, but did not disclose how much he owns. The popular businessman also revealed that he owns another cryptocurrency, Ethereum. With a net worth of $3.3 billion, Cuban can afford to take some risks with the volatile cryptocurrencies.
Want more Mark Cuban advice? Check out what he says is the nine things that you should do if you want to get rich and the one book from 1998 that taught him how to reach $1 million in the bank.
[TIME]