Such Doge, Not Much Wow! Mark Cuban 'Making A Mistake' With Dogecoin Payments, Says Long-Time Crypto Bull

Dallas Mavericks owner Mark Cuban is mistaken in letting people pay for their tickets with Dogecoin DOGE/USD, according to former hedge fund manager Michael Novogratz, Bloomberg reported Thursday. 

What Happened: In an interview with Bloomberg, the Galaxy Digital Holdings Ltd. BRPHF CEO had a message for Cuban. “Let’s put people in the safest best stuff, not these joke coins.”

“I think Mark’s making a mistake there. He’d be better off with 15 other different ways to pay for his tickets,” Novogratz added.

While Novogratz is bullish on Bitcoin BTC/USD, he does not share the same enthusiasm for DOGE and revealed he has made money by betting against the joke cryptocurrency.

See also: How to Buy Dogecoin (DOGE)

Novogratz said that the “existential threat” of BTC not being real has passed and pointed to the heightened institutional interest in the apex cryptocurrency as a reason for a reprice.

Why It Matters: Cuban said Thursday that Mavericks would accept DOGE for tickets and merchandise. The “Shark Tank” fame investor had said in February that the Shiba-Inu-themed coin was “not a bad look” for cryptocurrencies.

Novogratz told Bloomberg that if the  BTC price does not hit $100,000 this year, as he has predicted, it will do so in the following year.

See Also: Analyst Who Predicted $50,000 Bitcoin Sees Key Metric Indicating 'March To $100,000'

Novogratz was also positive on other cryptocurrencies such as Decentralized Finance coins and Terra Price LUNA/USD.

BTC traded 5.22% lower at $47,126.30 at press time, while LUNA traded 0.04% higher at $7.34.

Cuban too is positive on DeFi projects and revealed last month that he owned Aave AAVE/USD, which emerged as the largest DeFi project based on the Ethereum ETH/USD blockchain.

Photo by Dogeloverforever on Wikimedia

Posted In: CryptocurrencySmall CapMarketsdogecoinMark CubanMichael Novogratz