MarketPR
Bitcoin ($BTC) is up more than 25% in August, and the print has reopened a debate that billionaire investor Mark Cuban thought he had settled.
Cuban said last week the rally is the product of a temporary short squeeze, not evidence that anything has structurally changed, and he is sticking with the call he made in May when he sold his entire Bitcoin position.
Asset management giant BlackRock (NYSE: BLK) disagrees, and so does Coinbase Global (NASDAQ: COIN) CEO Brian Armstrong, who said Bitcoin could reach $400,000 by 2030.
Cuban's case rests on a specific thesis: Bitcoin is a risk-off asset, a place for capital when macro or geopolitical stress peaks. It should rally when geopolitical tensions escalate or when the U.S.
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