The owner of the professional basketball team the Dallas Mavericks – Mark Cuban – revealed that people don’t like buying tickets with their Bitcoin holdings because it is an appreciable asset. Instead, they employ Dogecoin, which is “easy to spend.”
‘Bitcoin Is a Little Bit of a Different Animal’
During an interview for Fox Business, the American billionaire Mark Cuban shared his views on some of the most popular cryptocurrencies.
Starting with bitcoin, he said the asset is a “great alternative store of value.” Cuban went further, opining that it is even better than gold, and is also much different than the alternative coins.
“Bitcoin is a little bit of a different animal as crypto as a whole.”
Not long ago Dallas Mavericks started accepting crypto payments for game tickets and merchandise on its online store. However, Cuban said NBA fans are not keen on purchasing tickets via BTC as they hold the asset for the long-term and expect its price to increase in time:
“Not a lot of people pay in bitcoin because it is really an appreciable asset. It’s a store of value and they want it to go up in value.”
On the other hand, many employ Dogecoin as a buying option as they have an entirely different attitude towards the meme token:
“We sell thousands and thousands of dollars per month during the off-season, and once the season starts I expect that to happen per week in Dogecoin – and that’s really because it’s easy to spend, it doesn’t appreciate so much that people want to hold it forever.”
Speaking of his personal investment in the meme coin, Cuban said he had increased it from $500 to $1,500 recently, explaining he bought “a little bit more for fun.” Nevertheless, he described DOGE as a way to understand how digital assets function, not as a successful investment instrument:
“I’ve never told anybody it’s a great investment, I’ve often said it’s a great way to understand how cryptocurrency works, how to invest in the market.”
Mark Cuban, Source: CNBC
Is Investing in DOGE a Wise Decision?
The meme coin, which started as a joke in 2013, has had by all means a turbulent year so far. At the beginning of 2021, its price tag stood at roughly $0.01. Shortly after, though, it skyrocketed and reached an all-time high of around $0.74 in May.
And when many experts thought that DOGE’s next ATH would be hitting the milestone of $1, its price started plunging. As of the moment of writing these lines, it trades at about $0.25.
Often described as a trendy cryptocurrency that the younger generations prefer, Dogecoin has attracted the attention of numerous prominent names, including Elon Musk. Tesla’s CEO has also admitted he had personally invested in it.
However, CoinShare’s CSO – Meltem Demirors, for example, believes the recent fascination with Dogecoin is a speculative mania and a bubble.
Michael Saylor – Co-Founder, and CEO of MicroStrategy – also placed himself as a DOGE opposer. He warned people to be highly cautious when investing in it as it has a temporary role.
Rafael “Tatito” Hernández – Speaker of the Puerto Rico House of Representatives – said the growing blockchain industry could bring more accountability and transparency to the public sector. He also raised hopes that his nation could become one of the cryptocurrency centers on the planet. Puerto Rico Aims to Become a Crypto Hub Puerto Rico…
This week, we take a closer look at Ethereum, Ripple, Cardano, Solana, and Binance Coin. Ethereum (ETH) Ethereum could not return above $2,500 and fell by 5% this week. The momentum appears bearish right now, but it is too early to say if this price action will last. ETH is still well above the uptrend
As the internet – and the world of crypto – evolves, so do the risks associated with it. Cybercrime is on the rise, with data theft, security breaches, and hacking becoming serious threats to blockchain users. Many have lost not only personal data but also digital assets to malicious actors. These growing threats underscore the
Ethereum Classic has been in the wars again with a second 51% attack within a week. This incursion has brought the security of the network under the spotlight again, though ETC prices remain largely unmoved at the time of writing. Earlier today, August 6, Etherchain.org tweeted that its Ethermine affiliated mining pool had disabled ETC…
TL;DR Ripple has achieved significant partial legal victories in its ongoing battle with the SEC throughout 2023. The potential penalty remains disputed, with the SEC proposing $102.6 million and the company arguing for a maximum of $10 million. Filing After Filing The legal spat between Ripple and the US Securities and Exchange Commission (SEC) continues
The most recent outlook for Bitcoin is not overly promising, as the price has been rejected from a key technical resistance level and is breaking below support levels. The recent rebound from the $20K area appears to have been just another mid-bear market bull trap. Technical Analysis By: Edris The Daily Chart The price has…
The rollover for XRP continues today with a further 2.15% price drop, bringing the price for the coin down to $0.27. XRP is showing some signs of stabilizing at the 2750 SAT level against Bitcoin. Despite the recent price fall, the cryptocurrency is still up by a total of 26% over the last 30 days.…
dogwifhat (WIF) continues to be one of the most talked-about meme coins on the market. Although WIF has struggled recently, many crypto traders still believe it has enormous long-term potential. But what about the newly launched Sealana (SEAL)? WIF Price Analysis – Current Levels & Price Action Let’s kick things off by looking at the
As innovative as it may be, blockchain technology faces particular challenges, including high fees, scalability issues, low throughput, and more. Several projects in the DeFi space compete to become the first web-scalable blockchain and ensure that users have the best experience by tackling these common issues. One of these, which is gaining traction in the…
