Dallas Mavericks owner Mark Cuban doesn’t own too much Dogecoin, even though he’s been a longtime supporter of the cryptocurrency.
How much Dogecoin does Mark Cuban own?
Cuban recently revealed that he owns about $500 worth of dogecoins. This is despite his team, the Dallas Mavericks, being the biggest Dogecoin merchant because it takes in dogecoins as payment for gear, according to Business Insider.
- “The Mavs have what we sold in merch,” he said in a tweet. “I personally own $494 worth of DOGE.”
Cuban’s reveal came after someone on social media asked him if his portfolio had more Bitcoin or Dogecoin.
Mark Cuban and Dogecoin
Cuban said he has allowed his son to get involved with Dogecoin because it teaches him lessons about investing at a low cost.
- “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.”
Cuban has long said that the cryptocurrency token’s biggest issue is that it’s hard for people to withdraw their Dogecoin holdings from the Robinhood app, and that there are limited ways to use the dogecoins in every day life, as I wrote for the Deseret News.