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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 U.S. president released his own.
Besides, he stated that the U.S. 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 Melania 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 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 Cuban would send all the revenue from his potential meme coin 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?”
U.S. Bitcoin Reserve may never happen, per Cuban
In the comments, responding 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 U.S. 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.”
Dan Burgin
Vladislav Sopov