Mark Cuban Comes To The Defense Of Dogecoin And Targets Bitcoin As Performance Over Past Year Questioned

Dallas Mavericks owner Mark Cuban has defended his comments about Dogecoin DOGE/USD being better suited for payments than Bitcoin BTC/USD and said that the apex cryptocurrency will never be a hedge against inflation.

What Happened: Cuban, a big proponent of Dogecoin like Tesla Inc. TSLA CEO Elon Musk, made the comments on Twitter while responding to a tweet by entrepreneur and podcaster Preston Pysh.

He noted that Dogecoin is good for spending and better than a lottery ticket, highlighting its performance over the last 12 months.

Dogecoin co-founder Billy Markus, who goes by the username Shibetoshi Nakamoto on Twitter, came to Cuban’s defense. He said it was annoying when keyboard warriors misrepresent people’s words.

See Also: How To Buy Dogecoin

Why It Matters: Cuban has previously too argued there is more likelihood of people using Dogecoin for making purchases compared to other cryptocurrencies like Bitcoin and Ethereum that have steep valuations.

The Dallas Mavericks became one of the first entities to begin accepting Dogecoin for ticket purchases and merchandise in March last year and a slew of other companies — including AMC Entertainment Holdings, Inc. AMC — followed suit.

However, Cuban has displayed mixed feelings towards Bitcoin.

The “Shark Tank” fame investor said in 2019 that it was easier to trade bananas than Bitcoin, but softened his stance later by saying that Bitcoin is easier to trade, store and create compared to gold.

Price Action: Bitcoin is up 1.1% during the past 24 hours, trading at $42,653.50 at press time, while Dogecoin is up 4.4% to $0.1527.

Read Next: This Knockoff Coin Is Up Over 1400% Today, Outshining Dogecoin And Shiba Inu

Photo: Courtesy of Gage Skidmore via Wikimedia

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