Billionaire Mark Cuban Says Dogecoin Is Higher Than A Lottery Ticket.
cryptocurrency in an appearance on “the ellen DeGeneres display.” Is dogecoin a shaggy dog story? Sure. Is it the quality investment within the international? No. But it’s at least higher than a lottery ticket, in the opinion of billionaire Mark Cuban.
Basic, whilst someone brings up dogecoin to you and asks you if it’s a great investment, he might say it’s now not the arena’s quality funding but it’s an entire lot better than a lottery price tag, and it’s an extremely good manner to study and begin understanding cryptocurrencies,” Cuban said. “and you recognize what? It can move up. And the second element approximately it's miles if it doesn’t cross up and also you need to spend it, you may purchase merchandise on the mavericks shop.”
Cuban has long praised the enjoyment and educational fee of dogecoin. In March, he announced that mavericks enthusiasts should buy tickets and merchandise the usage of it. The crew also accepts bitcoin, ethereum, and different cryptocurrencies.
“Bitcoin is like a virtual model of gold, there is a virtual version of a foreign money after which you acquire dogecoin, that's simply fun,” Cuban stated when DeGeneres requested him for his perspectives on investing in cryptocurrencies.
After starting out as a comic story between programmers — a parody of a cryptocurrency that was supposed to be worthless — dogecoin’s market cap is now about $35 billion, down from extra than $50 billion in advance this month. To its critics, it trivializes making an investment and creates risks that could harm traders swept up within the hype. Crypto bull mike Novogratz, for instance, isn’t a fan.
Nonetheless, dogecoin’s fee has rocketed up over the last yr, pushed by way of memes at the net or even some encouragement from big names like Elon Musk. The cryptocurrency presently trades at less than 30 cents apiece Bitcoin’s at around $55,000.