Connect with us

Dogecoin

A Lot of People Use DOGE to Buy Mavericks Merch, Mark Cuban Says, Adding More Dogecoin to His Stash

Published

on

Billionaire Mark Cuban said in an interview that people prefer to pay in DOGE at the Mavericks online store than in Bitcoin

In a recent interview with FOX Business, prominent investor and billionaire Mark Cuban, who owns the Dallas Mavericks team, stated that every month people use Dogecoin to buy Mavericks merchandise worth thousands of dollars.

Besides, he has bought more of the leading meme cryptocurrency “just for fun.”

Advertisement

“Not all crypto is the same”

Businessman and billionaire Mark Cuban told FOX Business that he believes all cryptocurrencies are different, with different utilities; however, he believes that, together, they will transform the future.

He has called Bitcoin “a great alternative to a store of value,” which is better than gold. He praised the second-largest cryptocurrency, Ethereum, for the smart contracts it enables, the security it provides and their ability to offer distributed management. He also mentioned DeFi and NFTs.

Advertisement

Cuban reckons that a lot of companies in the future will base their businesses on Ethereum.

“A lot of people are buying with Dogecoin”

Mark Cuban also shared that people prefer to use DOGE for payments when buying merchandise in the Dallas Mavericks online store and when paying for tickets to games.

He stated that people prefer not to pay in Bitcoin, since “it’s really an appreciable asset.”

Advertisement

However, the Mavericks online shop makes “thousands and thousands of dollars” in Dogecoin every month during the off-season. As soon as the season starts, the billionaire expects these massive payments in DOGE to happen every week. The reason for that, he believes, is that Dogecoin’s price does not appreciate much, so people do not use it as a store of value but “want to hold it forever.”

Cuban buys more DOGE “just for fun”

The owner of the Dallas Mavericks team admitted that he has added more Doge coins to his stash that he holds just for fun. Earlier this year, the billionaire shared that he owned slightly less than $500 in this Bitcoin parody crypto.

Now, his DOGE stash is worth approximately $1,500. He reminded the interviewer that he had never told anyone that Dogecoin is a great investment but rather it is a good way to learn how crypto works and learn how to invest. However, he believes that DOGE is far better than buying a lottery ticket.

Advertisement

In May of this year, he revealed that his 11-year old son Jake is also a DOGE holder and, between them, they held about 3,300 DOGE.

News Source

Advertisement

Dogecoin

Dogecoin holders in the US significantly outnumber the rest of the world

Published

on

• The meme crypto is trading over $0.24 today, the 23rd of October.
• Dogecoin touted as a perfect alternative for fast crypto transactions.

According to research from Finder, a cryptocurrency survey agency, Dogecoin has improved its adoptions among North American enthusiasts. The agency specifies that the purchase of the token has doubled so far this year, positioning the US as number one in DOGE adoptions.

Doge, a meme cryptocurrency developed in 2013, has gained fame with the CEO of Tesla Elon Musk alongside other celebrities on Twitter’s speculations. The research agency indicates that DOGE ranks high among the top three cryptocurrencies, alongside Ether and Bitcoin.

Advertisement

Dogecoin has become one of the favorite tokens for Americans

Dogecoin

Finder clarifies that Dogecoin is becoming one of the favorite cryptos for Americans after Bitcoin. The figures indicate that the adoptions wave in DOGE is 30 percent, which shows a large increase compared to last year.

The research also talks about ADA, a cryptocurrency developed by Cardano, which has been very famous among Australians. According to research, ADA would be in fourth place in adoptions in the United States, while 4 out of 10 people in the Australian region have it.

The study also focuses on the crypto adoptions wave in Asia, where Dogecoin is not as well-received as Bitcoin, Binance Coin, and Ethereum. Enthusiasts focus on Bitcoin’s highest value in this region, while another part seeks to profit from ETH.

The research is based on over 41,000 people surveyed in the United States and 21 other countries. According to the study, at least one in ten people have cryptocurrencies globally, showing that the adoption wave grows.

Advertisement

The reason for DOGE’s increease in adoptions

The new adoptions wave in Dogecoin could be due to many reasons, starting with the token’s value in recent weeks. According to CoinMarketCap, DOGE is trading at $0.2468, representing a rise of 3.24 percent of its price in less than 24 hours. The crypto website also specifies that the token has increased in price to over 2.69 percent in the last seven days.

After Polkadot, this high index makes crypto meme number nine among the top crypto outperforming USDC and LUNA. DOGE has also gained fame as the preferred crypto of Elon Musk. Musk recently posted a new tweet about Dogecoin that helped boost its value.

The cryptocurrency meme has also been taken as a great option for enthusiasts looking for speedy crypto transactions. DOGE has become the perfect alternative to tokens like Bitcoin because its demand is not that high. However, it is a long way from comparing itself to the higher-priced cryptocurrency, which recently surpassed the $66,000 range.

Advertisement

News Source

Continue Reading

Dogecoin

JPMorgan Has Bearish Warning About Dogecoin and Robinhood

Published

on

JPMorgan’s analyst maintains his bearish view on Robinhood due to low retail interest in Dogecoin

JPMorgan has maintained an “underweight” rating on the Robinhood stock, sticking to its $35 price target.  

In a Friday note, analyst Kenneth Worthington cites weak Dogecoin volumes as the key reason why he thinks that the leading online brokerage app is vulnerable.    

As reported by U.Today, the meme cryptocurrency accounted for a whopping 62%  of the firm’s crypto-related revenue in Q2.   

Worthington writes that, unlike cryptocurrency-focused trading platforms, Robinhood has failed to record an upsurge in trading volumes this October:

While 3Q21 volumes remain robust, they slowed down materially from 2Q21 levels.       

Dogecoin is only up a modest 15% this month, significantly underperforming its canine rival Shiba Inu. Yesterday, Robinhood CEO Vladimir Tenev seemingly dodged a question about listing plans for SHIB amid rampant speculation on social media.

In late September, Worthington also wrote that the company’s stock could experience significant selling pressure after the expiration of the lockup period on Dec. 1. More than half a million shares will be unlocked on that day.

Advertisement

Robinhood is set to announce its Q3 earnings on Oct. 26.  

News Source

Advertisement
Continue Reading

Dogecoin

Elon Musk Says He Will Become First Dogecoin Trillionaire

Published

on

The Tesla CEO says that he will become the world’s first trillionaire in Dogecoin

Tesla CEO Elon Musk claims that he will become the world’s first Dogecoin trillionaire in a recent tweet. 

Advertisement

Musk’s net worth has now swelled to $249 billion, according to the Bloomberg Billionaires Index. 

The entrepreneur is now worth more than the gross domestic product of New Zealand (and he’s close to surpassing Portugal).

His wealth has increased thanks to the renewed Tesla rally. The shares of the leading e-car maker hit a new all-time high of $910 earlier today.

Advertisement

Morgan Stanley predicts that Musk is on track to become the world’s first trillionaire thanks to SpaceX. 

In July, Musk revealed that he personally owns Bitcoin, Dogecoin and Ether. 

News Source

Advertisement
Continue Reading