Billionaire Mark Cuban Doesn't Mince Words About Crypto

The entrepreneur and owner of the Dallas Mavericks is a crypto investor. 

As the crypto market tumbles, little is heard from crypto evangelists.  

While not strictly speaking an evangelist, billionaire Mark Cuban has invested in the industry. He believes in its future.  

But Cuban, as a seasoned investor, has also kept all his lucidity. 

The billionaire entrepreneur said that the crisis that the crypto space is currently going through will make it possible to sort out valid projects from those that are based on nothing.  

“In stocks and crypto, you will see companies that were sustained by cheap, easy money—but didn’t have valid business prospects—will disappear,” Cuban said. 

“Like [Warren] Buffett says, ‘When the tide goes out, you get to see who is swimming naked." 

Bitcoin, the king of cryptocurrencies, has lost more than 70% of its value since November 10, the date of its all-time high of $69,077.44.