- Mark Cuban said the Dallas Mavericks are now the largest Dogecoin merchant in the world.
- The NBA basketball team has carried out more than 20,000 Dogecoin transactions, the billionaire said.
- The investor said if his team sells merch worth another 6.5 billion Dogecoin, the token’s price could hit $US1 ($1).
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Billionaire Mark Cuban announced on Saturday the Dallas Mavericks have completed more than 20,000 transactions in Dogecoin, making his NBA team the largest merchant of the meme-based cryptocurrency.
The “Shark Tank” host said if his team sells merchandise worth another 6.5 billion Dogecoin, the digital asset’s price could hit $US1 ($1). Dogecoin was last trading 8% higher at $US0.055 per coin on Monday.
Cuban tweeted: “The @dallasmavs have done more than 20,000 #Dogecoin in transactions, making us the LARGEST #DOGECOIN MERCHANT IN THE WORLD ! We thank all of you and can only say that if we sell another 6,556,000,000 #DOGECOIN worth of Mavs merch, #dogecoin will DEFINITELY HIT $US1 ($1) !!!”
The legendary investor’s announcement came two days after he told DealBook the NBA’s Mavericks would begin accepting Dogecoin as payment for tickets and merchandise. “Sometimes in business you have to do things that are fun,” he said, explaining the team’s decision.
Only a month ago, Cuban said Dogecoin has no intrinsic value but he bought some for his son anyway for educational reasons. “It gives you a better chance of winning than a lottery ticket, all while teaching the economics of supply and demand and introducing people to crypto assets,” he said.
Dogecoin has got recent boosts from billionaire Elon Musk, rockstar Gene Simmons, and rap legend Snoop Dogg. The Tesla founder sent its price soaring 25% in February when he tweeted “literally” along with an image of the meme-famous Shiba Inu dog. Musk posted another positive tweet about the asset over the weekend, saying: “Doge spelled backwards is Egod.”