'Supply And Demand Is Undefeated': Mark Cuban Celebrates Dallas Mavericks' Dogecoin Merch Sales
NBA owner and entrepreneur Mark Cuban has been an outspoken supporter of cryptocurrencies and NFTs. Cuban shared thoughts on this week's run in meme cryptocurrency Dogecoin, as well as some related sales figures from the Dallas Mavericks.
What Happened: In March, the Dallas Mavericks began accepting Dogecoin (CRYPTO: DOGE) as a form of payment. Cuban tweeted that the Mavericks’ sales in Dogecoin are up over 550% in the past month. The team has sold more than $122,000 in merchandise for Dogecoin since accepting the crypto as a form of payment.
To kinda quote a movie "Doge keeps going up, but our pricing at https://t.co/F0mbQjy21C stays the same". We just set a 24 hour record for Merch Sales in Doge ! 🚀🚀🚀 Put that Doge to work ! https://t.co/F0mbQjy21C https://t.co/JmZfOpkPgH
— Mark Cuban (@mcuban) April 16, 2021
“I do know that supply and demand is undefeated. So it will find its level,” Cuban told CNBC about the rise in the value of Dogecoin.
The Mavericks hit a 24-hour record for merchandise sales in Dogecoin, Cuban shared on Twitter.
“Doge keeps going up, but our pricing at dallasmavs.shop stays the same,” Cuban said.
Why It’s Important: Cuban has supported Dogecoin while also acknowledging that the cryptocurrency was meant as a joke.
“If I had to choose between buying a lottery ticket and #Dogecoin…I would buy #Dogecoin,” Cuban tweeted in February.
Cuban said he didn’t want to be asked about choosing Dogecoin over anything else though.
The NBA owner also bought “a few dollars worth” of Dogecoin for his 11-year-old son in February.
Cuban has some confidence that Dogecoin will keep going up or at least won’t fall too much, as the Mavericks plan on holding.
Learn more: How To Buy Dogecoin (DOGE) Right Now
“We will never sell 1 single Doge ever. So Keep buying,” Cuban tweeted.
Price Action: Dogecoin hit an all-time high of $0.4377 on Friday. Dogecoin was trading at $0.303 at the time of writing. Dogecoin has a market capitalization of $39 billion, according to AssetDash.com as of the time of writing.
Photo courtesy of Mark Cuban's Instagram.
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