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Mark Cuban thinks Wall Street stands no chance against digital natives

The entrepreneur states that old-school investors are getting their “ass kicked” by the “Store of Value Generation.”

According to a blog post on Jan. 31, Cuban suggested that the old-school investment community is currently taking a kicking from what he describes as the “Store of Value Generation.” 

As reported by Cointelegraph, these millennials have developed a greater understanding of the value of digital assets, having been brought up in a world where music was more often shared as a digital file than a physical object.

Blockchain technology, nonfungible tokens and smart contracts now allow any asset which can be represented digitally to act as a store of value, with provable scarcity and without many of the downsides of physical collectibles:

“This generation knows that a smart contract and the digital good it reflects or a CryptoAsset are a better investment than old school see, touch or feel uses.”

Cuban noted that a stock is just another digital store of value, and that the new generation has simply found and taken advantage of the inefficiencies in the legacy stock market system.

They have realized that by working together they minimize Wall Street’s power, and exposed the hypocrisy of hedge funds and brokerages putting out buy notes to millions of clients while crying foul when a subreddit does the same thing:

“Fat and happy Wall Street has become slow, stale and set in their ways, which makes them an easier than anyone would expect target.”

As reported by Cointelegraph, these millennials have developed a greater understanding of the value of digital assets, having been brought up in a world where music was more often shared as a digital file than a physical object.

Blockchain technology, nonfungible tokens and smart contracts now allow any asset which can be represented digitally to act as a store of value, with provable scarcity and without many of the downsides of physical collectibles:

“This generation knows that a smart contract and the digital good it reflects or a CryptoAsset are a better investment than old school see, touch or feel uses.”

Cuban noted that a stock is just another digital store of value, and that the new generation has simply found and taken advantage of the inefficiencies in the legacy stock market system.

They have realized that by working together they minimize Wall Street’s power, and exposed the hypocrisy of hedge funds and brokerages putting out buy notes to millions of clients while crying foul when a subreddit does the same thing:

“Fat and happy Wall Street has become slow, stale and set in their ways, which makes them an easier than anyone would expect target.”

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