Billionaire Cuban doesnt own as much Doge as you thought

Karthik Subramanian

Billionaire Mark Cuban has revealed that he owns just $494 worth of Dogecoin though he believed that Dogecoin has a very strong community, on par with many of the bigger crypto communities.

BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI: Monthly crypto crash is the new thing?

He revealed this after he came under fire for supporting Dogecoin and he was very clear that though he didn’t own much of Dogecoin and himself, his son and his team Dallas Mavericks owned less than $15,000 worth of the crypto, he still felt that Dogecoin could be used as a medium of exchange in the future and thought that it was good to reveal his holdings and his thoughts to everyone so that there is no ambiguity.

“The Mavs have what we sold in merch,” Cuban said. “I personally own $494 worth of DOGE. It’s a medium that can be used for the acquisition of goods and services. The community for Doge is the strongest when it comes to using it as a medium of exchange.”

He received support from Elon Musk who has been a firm supporter of Dogecoin for a long though he has not revealed any specific reasons for the same and the crypto community still believes that Elon uses his support or the lack of it to control the prices of cryptos for his own profits. But the fact that Dogecoin has received renewed support from another billionaire has increased the attention on the crypto once again which has helped to buoy the prices of the crypto over the last few days.

It is reported that the Dallas Mavericks are looking into entering the world of NFTs as well in the future and this was specified as such by Mark Cuban in one of his interviews earlier. He had expressed his idea to convert tickets into NFTs and other collectibles as well which the fans can buy, trade, and resell and the team would be able to make some royalty out of all these exchanges and resales.

NFTs are gaining traction in a very fast manner over the last few months and we have been seeing them being used in the art industry. Many art pieces are on display in platforms like OpenSea where NFTs and art pieces are being sold by the dozen and the transaction volumes have hit the roof. It is only a matter of time before NFTs begin to get used in other industries as well and this could spawn an entirely new industry.

 

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