American billionaire Mark Cuban is ‘very bullish’ on the upcoming Ethereum upgrade.

April 6, 2022

‘Ethereum Maxi’ Mark Cuban is highly bullish on the upcoming Ethereum merge for two main reasons.

Ethereum network is all set to merge with the Beacon Chain and the network will officially change from a proof-of-work blockchain to a proof-of-stake one.

The first reason Mark Cuban is bullish on the upcoming upgrade is that a shift to PoS could potentially lower Ethereum’s energy consumption by 99%.

The change in Ethereum’s issuance after the merge is also a major reason for Mark Cuban to be bullish about the upcoming upgrade.

The Shark Tank billionaire said that he is interested in how the lower amount of ETH issued will possibly make the native cryptocurrency deflationary.

Following the upgrade to PoS, the amount of ETH issued is projected to drop by 90%.

Earlier, Mark Cuban had revealed that 80% of his non-'Shark Tank' investments are in crypto.