Dallas Mavericks owner Mark Cuban recently revealed which cryptocurrency he believes has the biggest upside for the long term.
Cuban told CNBC on Wednesday that Dogecoin isn’t the best investment for the future.
- “As an investment, I think ethereum has the most upside,” he said.
- Cuban said he wished he invested in ethereum sooner because he sees it as “a true currency,” he told CNBC.
But Cuban said Dogecoin is a “fun” investment that can teach people how to invest for educational reasons, according to Business Insider.
- Ethereum is one of the bigger cryptocurrencies out there, often ranked behind Bitcoin as one of the most popular. Data from Coinmarketcap show the cost of a single ethereum coin is $3,751.57.
Cuban has been one of the biggest advocates for Dogecoin. His NBA team, the Dallas Mavericks, accept Dogecoin at their team store. In May, Cuban said on the daytime talk show “Ellen” that Dogecoin is an educational cryptocurrency that’s slightly better than a lottery ticket.
- “So the question everyone wants to know is, is Dogecoin a good investment? And here’s the reason I got (son) 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.”
