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Mark Cuban and His Son Own 3,250 DOGE Together but Billionaire Has Doubts

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Mon, 05/17/2021 - 11:42
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Yuri Molchan
Billionaire Mark Cuban has admitted to holding over 3,000 of Dogecoins, however, he assumes that DOGE may not turn into a popular payment mechanism after all
Mark Cuban and His Son Own 3,250 DOGE Together but Billionaire Has Doubts
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Billionaire and Shark Tank co-host Mark Cuban recently tweeted that he holds 3,250 Dogecoins that he bought together with his son.

Cuban Senior and Junior are Dogecoin holders

Mark Cuban and his 11-year-old son Jake own almost 3,300 DOGE. Previously, Cuban stated that this asset is cheap enough to learn crypto investing on. He also believes that Dogecoin is better than any lottery ticket.

That is merely $1,625 in fiat; however, Cuban also earns DOGE from what people spend on tickets to Mavericks (the NBA team he owns) games and the team's merchandise on their website.

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DOGE payments were added by the team earlier this year, along with a few other popular companies selling goods and services, which, along with Elon Musk's tweets, pushed the Dogecoin price to the North.

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DOGE could become valid payment tool, but there is a snag

Shark Tank co-host Cuban (the other host is Kevin O’Leary, aka Mr. Wonderful, a former crypto hater who has been "converted" to Bitcoin now) reckons that Dogecoin could turn into a "valid payment mechanism" since it has utility, and utility provides growth in demand.

However, the Mavericks owner believes the chances are equal that Doge will or will not survive long-term.

However, so far, Dogecoin has succeeded, and users can take it in a new direction from the one that was intended originally, he pointed out. As a reminder, Dogecoin was launched back in 2013 as a Bitcoin parody—a coin based on the Shiba Inu meme.

Without demand, it's all just talk and utility drives demand. DOGE may or may not survive long term, but it won't be the first product whose users took it a new direction from it original intent and succeeded.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.