Dallas Mavericks owner Mark Cuban has disclosed how much he personally owns in meme cryptocurrency Dogecoin DOGE/USD.
What Happened: Cuban, a big advocate of Dogecoin and other cryptocurrencies, said on Twitter that he personally owns $494 worth of Dogecoin. Based on Dogecoin’s price of $0.3360 at press time, the holdings amount to about 1,470 dogecoins.
The Mavs have what we sold in merch. I personally own $494 worth of DOGE— Mark Cuban (@mcuban) August 15, 2021
See Also: How To Buy Dogecoin (DOGE)
However, fans of apex cryptocurrency Bitcoin BTC/USD saw Cuban’s disclosure as an opportunity to poke fun at his Dogecoin holdings.
A Twitter user accused Cuban of jumping on the Doge bandwagon just to boost his following.
wtf you were on a roll up until this. $494? Practice what you preach. How could you have significant holdings in TITAN but only hold $494 in DOGE?Feels like your jumping on the doge bandwagon just to boost your following— Mo$ (@sourappL) August 15, 2021
Another Bitcoin fan said Cuban was “smart enough” not to invest $494,000 in Dogecoin.
No, he means exactly that. $494 @mcuban is smart enough to not put in $494k. Like he said, he’s just having fun with it and the community. #doge is fun, and so is the community. Fun doesn’t = a sound investment. Money put into doge is different than any other expense.— Bitcoin_Oracle (@oracle_btc) August 16, 2021
See Also: Why Is Dogecoin Shooting Higher Today?
Why It Matters: Nevertheless, Cuban has supported Dogecoin while also acknowledging the cryptocurrency's joke origin.
In March, the Dallas Mavericks began to accept Dogecoin as a means of payment for Mavs tickets and merchandise. Cuban revealed in April that Maverick’s sales in Dogecoin jumped up over 550% compared to the prior month.
In an interview with CNBC Friday, the “Shark Tank” fame investor said Dogecoin is the strongest cryptocurrency as a medium of exchange.
Cuban also said in May that he believes Dogecoin has the potential to become a useful currency if more companies adopt the meme cryptocurrency for their products and services.
Price Action: Dogecoin is up 13.9% during the last 24 hours, trading at $0.3360 at press time.
Photo: Courtesy of Gage Skidmore on Wikimedia
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