Lead investor and billionaire Mark Cuban, owner of the Dallas Mavericks team, stated in a recent interview with FOX Business that people use the popular meme coin Dogecoin to buy thousands of dollars worth of Mavericks products each month. He also announced that he is buying more “just for fun” from the leading meme cryptocurrency.
Cuban: “Not all cryptos are the same”
Businessman and billionaire Mark Cuban told FOX Business that he believes all cryptocurrencies are different with different tools; but he believes that together they will change the future. He described Bitcoin as a “great alternative to a store of value” that is better than gold. He praised the second-largest cryptocurrency Ethereum for the smart contracts it provides, the security it provides, and its ability to offer distributed management. He also mentioned DeFi and NFTs. Cuban thinks that in the future many companies will base their businesses on Ethereum.
“Many people buy with meme coin in Mavericks store”
Mark Cuban also shared that people prefer to use DOGE for payments when purchasing goods from the Dallas Mavericks online store and paying for game tickets. He stated that people prefer not to pay with Bitcoin because it is a “truly notable asset.”
However, the Mavericks online store earns “thousands of dollars” of Dogecoin every month during the off-season. As soon as the season starts, the billionaire expects these big payouts at DOGE to happen every week. He believes this is because the price of Dogecoin isn’t gaining much value, so people don’t use it as a store of value, “not wanting to hold it forever.”
Cuban buys more DOGE ‘just for fun’
The owner of the Dallas Mavericks has admitted to adding more Dogecoins to his stash just for fun. cryptocoin.com As we reported earlier this year, the billionaire shared that he has less than $500 in Dogecoin. Meanwhile, Dogecoin price jumped 10% and rose as high as $0.25.
Now, the DOGE stash is worth about $1,500. He recalled that he never said anything like “Dogecoin is a great investment” to anyone, but that he thought DOGE investing was a good way to learn how cryptos work and how to invest. However, he believes DOGE is much better than buying a lottery ticket. In May of this year, he announced that his 11-year-old son, Jake, also owns a DOGE, and they own about 3,300 DOGEs.
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