US billionaire and founder of NBA club, Dallas Mavericks, Mark Cuban has announced that his club’s merchandise is mostly purchased with Dogecoin rather than Bitcoin. Mark Cuban made this revelation in a recent interview with FOX Business. The billionaire noted that every month, fans of the NBA team prefer to use Dogecoin to buy many of the team’s merchandise running into thousands of dollars.
While stating that these sales occurred during the off-season, Billionaire Cuban reasoned that he expects sales to go over the roof as soon as a new season kicks off. Earlier in July, Dallas Mavericks announced that its merch could be purchased with payments in Bitcoin, Ethereum.
Sales trickled in at a slow pace until Dogecoin payments were allowed; and according to Mark Cuban, an avalanche of Dogecoin payments came in from fans who wanted to purchase merchandise from the team’s online store and when buying tickets as well.
Mark Cuban Says Bitcoin Appreciates More Than Dogecoin
Explaining the reason for this in the Fox Business interview, Mark Cuban said that Bitcoin payments are not common because the digital asset is appreciable. However, on why Dogecoin payments for the team’s merch and game tickets were more preferred by fans, Mark said that people do not consider the meme cryptocurrency a store of value, that they just want to ‘hold it forever.’ The billionaire asserted that this is the reason why Dogecoin’s price does not appreciate much.
Additionally, Mark Cuban argued that not all crypto is the same. Adding that cryptocurrencies are different and may have different utilities, but they will all change the future. The Dallas billionaire also mentioned Ethereum, hailing it for its smart contract capabilities, security and distribution mechanism.
According to him, in the near future, several businesses will center their businesses around Ethereum. Also, he did not fail to talk about the current rave- Decentralized Finance and NFTs.
Cuban Adds to Dogecoin Holdings ‘Just for Fun’
Mark Cuban rounded off the interview revealing that he holds Dogecoin, and even bought more just for the fun of it. Before the interview, Cuban had announced that he holds less than $500 worth of the meme cryptocurrency. With his recent purchase, Cuban’s Dogecoin holdings is now worth $1500.
Speaking further, Cuban claimed that he did not mean to tell anyone that Dogecoin is a great investment, but that it is a good way to learn how cryptocurrencies work and how to invest. The Dallas billionaire also thinks buying Dogecoin beats buying lottery tickets.
In August, Mark Cuban had come under heavy criticism from some Twitter users who believed he was promoting Dogecoin. In his defense, Cuban argued that he was only protecting his businesses and companies’ interests, and not concerned about shilling the parody crypto. Perhaps this accounts for why the billionaire owns less Dogecoin in his stash.
Elon Musk and Mark Cuban share a bit of similarity in that the former claimed that son is a Dogecoin holder. While the latter revealed back in May that his 11-year-old son Jake is a Dogecoin enthusiast with both of them holding 3,300 of the meme token.