Altcoins, Cryptocurrency, DeFi (Decentralized Finance), News

Billionaire Investor Mark Cuban Is Now Officially Backing Polygon

Polygon (MATIC) is a scaling solution based on Ethereum, and as per recent news, it looks like billionaire Mark Cuban is going to be lending his support in the project and is looking to invest.

Shark Tank host and owner of the Dallas Mavericks, Mark Cuban, has decided to invest in Polygon after witnessing the recent almost meteoric rise experienced by the cryptocurrency. As it stands right now, MATIC is trading at $2.28, which is a 26.2% increase since yesterday. The decision by Cuban had been made via disclosure on a website of his, which offered even more evidence as to the fact that numerous wealthy investors are indeed looking to invest in cryptocurrency regardless of the recent market crash.

Moreover, Mark Cuban Companies’ website now adding Polygon is a decision that was made fairly recently, and all it really did was reaffirm the backing being provided to the project by the billionaire.

Cuban becoming increasingly supportive of cryptocurrencies

It should be mentioned that Mark was actually quite the polarizing and controversial figure within the crypto community and market not too long ago, but he has nevertheless since turned it around and has now become one of the more vocal and outspoken supporters of the crypto industry over the course of the previous year.

In related news, he had also quietly distanced himself from fellow billionaire Elon Musk following his recent decision involving BTC payments being no longer accepted by Tesla. Cuban, however, remains supportive of BTC and has stated that the Dallas Mavericks will continue accepting it as a form of payment.

Furthermore, Mark had also recently recognized the fact that cryptocurrencies are finally starting to represent real and tangible demand as far as their utility is concerned and believes that the future of crypto is bright despite some setbacks here and there. Cuban had even spoken to Charles Hoskinson regarding the possibility of supporting Cardano recently as well.

MATIC keeps rising

When we observe the cryptocurrency’s ascension during 2021 thus far, it becomes obvious as to why someone like Mark would want to support Polygon. The user base of Polygon had, in fact, grown by 75,000 over the course of a single week, which only emphasized the need for layer two solutions in this day and age. Furthermore, this new influx of users had also culminated in approximately $1 billion being generated in overall volumes.

Cuban also made it known that Polygon is fast, its user base is growing, and it tends to work well, concluding with the statement that he has been ‘an active user’ for a while now. Polygon’s COO, Sandeep Nailwal, had nothing but nice things to say about Mark and deemed the conversations with him as ‘mind blowing.

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