Mark Cuban: I'm plannig to enter in the cryptocurrencies market.. but i'm not buying bitcoin

30.06.2017 / 11:09

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Bitcoin skeptic Mark Cuban is looking to take part in one of the hottest trends in the digital currency world right now: the initial coin offering.

One of the companies Cuban is invested in, Unikrn, is planning its own offering, and digital currency.

I "haven't signed the paperwork yet. But it's likely it will happen," he added.

An initial coin offering is a fundraising process for blockchain-based projects that allows investors to own part of a project through a digital network token. Start-ups in the blockchain world often find this method of fundraising more attractive than venture capital funding for the speed and amount they can raise — on June 12 a project called Bancor raised the equivalent of about $150 million within two hours.

Unikrn is an esports online betting site that uses a virtual currency and is scheduled to launch in September a sale of tokens based on ethereum, a rival of bitcoin.

Source: Bloomberg Pro Terminal

Trader Bozhidar Arabadzhiev

Varchev Traders

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Mark Cuban: I'm plannig to enter in the cryptocurrencies market.. but i'm not buying bitcoin

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