Billionaire investor Mark Cuban, the owner of Dallas Mavericks and television personality talked about Dogecoin to millions of viewers worldwide on Ellen DeGeneres’s talk show on Tuesday. The billionaire investor explained the Dogecoin sensation, describing the meme-inspired cryptocurrency as a preferred investment compared to an ordinary lottery ticket.
Besides Dogecoin, DeGeneres and Cuban elaborated on non-fungible tokens which Cuban explained as digital assets that can be brought, sold, or held as any other asset. A tweet made by DeGeneres on Monday stated that she will be auctioning a non-fungible token for World Central Kitchen.
Mark Cuban further discussed Dogecoin on ‘Ellen’, the daily talk show broadcasting to millions of viewers stating the Shiba Inu cryptocurrency could potentially be bought into the mainstream in the near future. Cuban also described Dogecoin to be a unique phenomenon since it initially started as a joke, but is now on par with Bitcoin and Ethereum, the two highest-performing cryptocurrencies.
During the episode, Cuban shared his thoughts on investing in Dogecoin stating that as of now the cryptocurrency is worth 26 cents which represents a better value compared to buying a lottery ticket. Moreover, Cuban showed his support of Dogecoin stating his Mavericks basketball team store accepted the coin for merchandise, and also advised Ellen to do the same for Ellen Shop. Though he did not mention that cryptocurrency is liable to tax in the United States if spent on goods and services.
Furthermore, Cuban did not mention the risk factors that included Dogecoin’s limitless supply and technical development. However, he did mention that trading platforms for cryptocurrency collected private information from users.
He also gave the audience a primer for anti-money laundering after DeGeneres stated she felt uneasy due to Robinhood’s requirements for Social Security number and guaranteed Robinhood’s security measures.