FX168 Financial News Agency (Asia Pacific) News usa billionaire Mark Cuban said that former President and Republican presidential candidate Donald Trump's announcement of issuing coins pegged to 99.99% pure silver is a betrayal of bitcoin, criticizing him for trying to profit from supporters.

Cuban said that Trump recently issued collectible silver coins with a face value of $100, indicating that he did not fully commit to bitcoin, and his goal is only to profit for himself.

Trump announced on Sunday the official issuance of TRUMP coins with a face value of $100, stating that this is the only official coin designed by him. This move aims to raise campaign funds to compete against Vice President Kamala Harris and actively prepare for the November presidential election.

Cuban shared the promotional video of Trump's official silver coin, writing, "I guess he doesn't believe in bitcoin as much as Maximalists tell him."

(Source: Twitter)

"He sells the silver coins as collectibles that can appreciate in value, this is an investment," he wrote. "Would Maximalists tell anyone on earth to buy silver coins instead of bitcoin as an investment?"

For centuries, people have viewed silver as a valuable store of value and a safe-haven asset, performing better than cash in resisting inflation, currency devaluation, geopolitical unrest, and other threats.

However, some investors, including stock god Warren Buffett, have warned that compared to productive assets such as businesses that can grow and generate income, silver and other precious metals have higher risks and lower profits.

According to the official website Realtrumpcoins.com, Trump coins are minted in the usa, with one side featuring the former president's portrait, and the other side featuring an image of the White House.

They contain 1 troy ounce of 99.9% pure silver, priced at $100, which is more than three times the price of silver. They come in custom felt bags and come with a certificate of authenticity.

These tokens are produced and distributed by JBCZ Group under authorization from CIC Digital, which also authorizes the production of non-fungible tokens (NFTs) branded with the Trump name for digital trading cards. Meanwhile, CIC Ventures offers the Trump sneaker series. Both these CIC entities are fully owned by Trump's revocable trust, with Trump being the sole beneficiary of the trust.

The official website describes these coins as 'intended as collectibles for personal appreciation, not for investment purposes,' and states that 'these coins are not political and have no association with any political movements.'

Despite these disclaimers, Cuban still accuses Trump of selling inferior investment products to his supporters to make quick money. He also suggests that Trump's endorsement of these tokens implies that he cannot be trusted as a business partner or investor.

Cuban asks on Twitter: 'Compared to bitcoin, ether, real estate, or other liquid assets, would you consider finding someone who promotes this illiquid product, someone you can trust for investment advice?'

He goes on to say, 'Would you tell anyone you know to get business or investment advice from those selling these coins?'

(Source: Twitter)

In recent weeks, Cuban has criticized Trump multiple times, while supporting Harris, Trump's competitor in this year's presidential election. He fiercely attacks the real estate tycoon as "unethical" and "dishonest", warning that his plan to impose comprehensive tariffs will hurt even the smallest American businesses, and cautioning that he will become a "terrible president".