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Billionaire and Shark Tank co-host Mark Cuban has recently tweeted that he holds 3,250 Dogecoins that he bought together with his son. However, much of this crypto has been spent already.
Cuban Senior and Junior are Dogecoin holders
Mark Cuban and his eleven-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’s merely $1,625 in fiat, however, Cuban also receives DOGE from what people spend on tickets to Mavericks (the NBA team he owns) games and the team’s merchandise on their website.
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 Dogecoin price to the North.
DOGE could become valid payment tool but there’s a snag
Shark Tank co-host Cuban (the other host is Keavin O’Leary, aka Mr Wonderful, a former crypto hater who has been “converted” into Bitcoin now) reckons that Dogecoin could rise into a “valid payment mechanism”, since it has utility and utility provides a growth in demand.
However, the Mavericks owner believes chances are equal that Doge will or will not survive long-term.
However, so far Dogecoin succeeds and users can take it to 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 llong term, but it won’t be the first product whose users took it a new direction from it original intent and succeeded”