American billionaire investor Mark Cuban has invested in the Ethereum-based scaling solution Polygon (MATIC), putting his weight behind an asset that has grown more than 9,000% since the year began. Although the investment was disclosed on one of Cuban’s websites, the billionaire is yet to provide details of his position.
Earlier reports by Cointelegraph stated that Cuban adding MATIC to his portfolio confirms that the billionaire supports the project.
The investor said that his company – Dallas Mavericks – will continue to accept BTC payments even when Elon Musk announced that Tesla would suspend Bitcoin payment. According to Tesla, Bitcoin is harmful to the environment due to its energy consumption.
Further supporting cryptocurrency, Cuban said that the crypto industry is bright. He, however, noted that more transactions per second and reduced gas fees would not be enough. He continued:
“There must be a CURRENT network effect and significant user growth. This is a challenge for most L1s and L2s because [with] few exceptions, marketing in the crypto universe is beyond awful.”
With Polygon’s exponential growth this year, a MATIC network explorer revealed that it now processes more than 5.89 million transactions per second. Also, the network has processed a total of 122 million transactions and has over 1 million wallets.
Image Credits: Pixabay
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