Mark Cuban Eyes Launching His Own Meme Coin But With Big ‘Twist’
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Billionaire and crypto supporter Mark Cuban has revealed why DOGE and SHIB have become successful and said that he might issue a meme cryptocurrency after the US president has released his own.
Besides, he stated that the US government Bitcoin Reserve may never happen.
Mark Cuban on meme coins: "Maybe I’ll issue one" with a "twist"
Cuban’s tweet states that since meme coins are so popular that even Donald Trump and his wife have issued one coin each, he may also launch his own meme-themed cryptocurrency: “If meme coins are the way, maybe I’ll issue one.”
However, billionaire and DOGE enthusiast Cuban added that unlike with Trump’s coin, his meme coin would have a twist: “Same terms as $TRUMP. 20% float. Same release schedule. One difference.” This twist is that all the revenue from his potential meme coin Cuban would send to the US Treasury. He would also publish the address of the coin’s wallet so that everyone interested would be able to track those transfers.
Cuban explained that this way he would “make a dent in the US debt,” asking the community if they would support this initiative: “You in?”
US Bitcoin Reserve may never happen per Cuban
In the comments, answering to crypto enthusiasts, Cuban revealed that he had never thought about launching crypto before but it “wouldn’t be hard at all.”
When someone said that he should send all the profits from this hypothetical meme coin to the US Bitcoin reserve, the billionaire said: “I thought about that. But it doesn’t exist and it may not.”
Yuri MolchanHere's why DOGE and SHIB succeeded, Cuban assumes
In another comment an X user did his best to talk Cuban out of that idea and he said that the most successful meme coins are “community takeovers,” since “it takes a lot of time for a strong distribution to materialize”, etc.
Cuban agreed with the crypto fan here, saying that exactly for this reason DOGE, SHIB, and a few other meme coins “have worked” – “it’s about the community in the long term.” Cuban then confirmed his earlier position on meme crypto: “I said it was gambling. It’s a game of musical chairs.” He even admitted that buyers of his hypothetical coin may “get rekt.”
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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