Billionaire Dallas Mavericks owner Mark Cuban recently added the entire town of Mustang, Texas, to his portfolio.
The town boasts 77 acres and a population of 21 — and Cuban does not have any definitive plans for the property. As he told The Dallas Morning News: “I don’t know what if anything I will do with it.”
CNN Business reported:
The town was founded in the early 1970s, when it was known mostly as a local watering hole in an otherwise dry Navarro County, according to the paper. These days, there’s little more than a trailer park and a strip club, Wispers Cabaret, which is reportedly in disrepair. On Friday, Google Maps showed the name of the club had been edited to “Mark Cubaret.” …
Nearby attractions? Well, you’ve got Dallas about 45 minutes north. And history buffs with a penchant for cult lore will be pleased to find that the city of Waco is just over an hour’s drive southwest of Mustang. And just two miles from Wispers, there’s “Navarro County’s first and only vineyard and winery,” Angelita (which honestly looks super cute).
Beyond entire Texas municipalities and NBA teams, another favorite investment vehicle of Cuban’s is Bitcoin.
“BTC is digital gold. It wins that use case,” Cuban tweeted in June. “Every other platform from Eth to you name it will win or lose based on their user base. Over time, as happened with tech stocks, people will understand the valuation metrics of networks/platforms and invest based them.”
“Crypto outperforms stocks not just on transparency, but by allowing tokens to share all the economics with holders. Revenues always get to holders, not to retained earnings. That’s huge. The economics of apps and innovation are far better for entreprenuers and investors,” Cuban continued.
“Will some fail. Of course. Will there be fraud. Yep,” Cuban acknowledged in another thread. “But over time the apps will get better, there will be greater network effects and UI/UX will make it easy for anyone to participate and understand. When Textbooks are NFTs and kids know its better than physical books and the used book market, they will go to the platform that is the path of least resistance. The challenge for all networks/platforms is how big does the early mover advantage get?”
Earlier this year, Cuban threw his support behind amateur Wall Street investors pouring money into stocks heavily shorted by leading hedge funds.
“I got to say I LOVE LOVE what is going on with #wallstreetbets,” he said on Twitter. “All of those years of High Frequency Traders front running retail traders, now speed and density of information and retail trading is giving the little guy an edge.”
“Even my 11 yr old traded w them and made $,” he added.
In an interview with CNBC, Cuban said that “As someone who’s shorted stocks many times… you know exactly what you’re getting into, and you know exactly what the risks are.”
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