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.
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.
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
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