How many dogecoins does Mark Cuban own?
Cuban said he owns 3,250 total dogecoins, which he bought with his son, Jake.
The Dallas Mavericks owner said he receives a slew of dogecoins from sales for the Dallas Mavericks, which allow people to buy merchandise using dogecoins.
- “And for the record, the only DOGE I own is the 3250 I bought with my 11 yr old and however much has been spent on Mavs merchandise and tickets. My only financial benefit is more people using it to buy Mavs stuff at Mavs.com,” he tweeted.
And for the record, the only DOGE I own is the 3250 I bought with my 11 yr old and however much has been spent on Mavs merchandise and tickets. My only financial benefit is more people using it to buy Mavs stuff at https://t.co/VUydpLFzGh 🚀🚀🚀 https://t.co/hvp93dRxFL— Mark Cuban (@mcuban) May 15, 2021
- “Without demand, its all just talk and utility drives demand. DOGE may or may not survive llong term, but it wont be the first product whose users took it a new direction from it original intent and succeeded,” he tweeted.
If the 3,250 number is true, that means Cuban has about $1,560 worth of Dogecoin since each coin is valued at around $0.48 right now.
Why did Cuban buy dogecoins?
Cuban told Ellen DeGeneres in an episode of the “Ellen” show that Dogecoin helped his son learn about trading. He said he invested in Dogecoin because it is better than playing the lottery, as I wrote for the Deseret News.
- “So the question everyone wants to know, is Dogecoin a good investment? And here’s the reason I got Jake into it. It’s not necessarily the best investment you can make, but you can buy it on Robinhood, and signing up and trading on Robinhood is free. So that’s one thing,” Cuban said.
- “The second thing is it’s about 26 cents per Dogecoin. So if you go and spend $5, $10, $15, that’s a better investment than buying a lottery ticket. And you know what? It could go up,” he added. “It’s also becoming a digital currency, which is crazy if you think back to its origins.”
What is the future of Dogecoin?
“Like all generational technologies, it takes a generation to grow up. Crypto is in the phase where users need to be educated and products and services need to be sold and deliver on their initial promises. Then, Crypto can mature to the point we wondered how we ever lived without,” he said.