Mark Cuban's Bitcoin Plan: Run for President if BTC Hits $1 Million, Free Satoshis for Every CitizenJanuary 7, 2021
Billionaire Shark Tank investor Mark Cuban has shared his idea of what he will do when the price of bitcoin hits $1 million. Cuban says he will run for president but only if some bitcoins are donated to the Treasury so that every citizen receives some satoshis each year he is in office. He will require them to hold onto the coins for 10 years.
Mark Cuban Envisions Running for President When Bitcoin Hits $1 Million
Shark Tank star Mark Cuban tweeted about bitcoin and the U.S. presidential election Tuesday in reply to a thread started by the Virgin Galactic chairman Chamath Palihapitiya. The owner of the National Basketball Association’s (NBA) Dallas Mavericks wrote:
I’ll run if BTC gets to $1m and we can get commitments to donate 350 BTC to the Treasury each of the 4 yrs so that we can give 1 satoshi to every citizen each yr, that they must hold for 10 years.
The Shark Tank star initially tweeted “1 satoshi” but subsequently made a correction, stating, “that’s 100 satoshis per citizen per year.” One bitcoin is equivalent to 100 million satoshis.
Palihapitiya started the thread on Twitter, stating: “There will be a viable third political party in the US by 2030. Centrist, pragmatic and cuts through the bullshit. The current system is so broken, you can only support it through a combination of willful blindness and stupidity.” Cuban replied: “Why do we need political parties at all?” Palihapitiya responded with “probably wouldn’t if you would run…”
Comments flooded the thread with many people cheering for Cuban to really run for U.S. president in 2024. Some commenters suggested that either Palihapitiya or the pro-UBI Andrew Yang could be the vice president.
The Virgin Galactic chairman has long been pro bitcoin. He repeatedly said that the price of bitcoin could go to a million dollars and everyone should own some BTC, advocating having at least 1% of portfolios in the cryptocurrency. Palihapitiya himself has a plan when the price of bitcoin reaches $150,000. He tweeted on Dec. 30:
When BTC gets to $150k, I will buy The Hamptons and convert it to sleepaway camps for kids, working farms and low-cost housing.
Cuban’s opinion of bitcoin was not always positive. He previously stated that he would “rather have bananas than bitcoin,” emphasizing that he could at least eat a banana. In December, Cuban started showing an incremental growth of appreciation for the cryptocurrency, arguing that bitcoin was “a store of value like gold” but added that it “is more religion than solution to any problem.” Then his Dallas Mavericks started offering merchandise discounts for customers paying with bitcoin.
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