Despite endorsing the cryptocurrency, Mark Cuban tweeted Sunday that he’s invested less than $500 in Dogecoin.
The billionaire investor replied to a consumer on Twitter who asked him whether or not he had extra Dogecoin or Bitcoin on his wallet.
“We possess what you bought in merchandise,” Cuban said. “I only own Doge worth $494.”
Mark Cuban has an unusual sponsorship. He is the Dallas Mavericks owner, one of only two NBA teams to have accepted Dogecoin for tickets and merchandise. Cuban also told CNBC last week that customers who pay with DOGE during their summer sale will receive a discounted price on all items in store – even if it’s just 50% off!
“The world moves so fast now,” says Mark Cuban when asked about his decision to adopt cryptocurrency as a payment method early this year. “The future needs risk takers, people willing to make bold moves.”
Cuban, a big believer in Dogecoin, told CNBC Make It last week that he believes Dogecoins are best when used for transactions.
“Dogecoin is a cryptocurrency that can be used to buy products and services,” Cuban said in an interview with CNBC Make It. “The circle for Dogecoin has a reinforcement for exploiting it as a currency.”
However, fans of top-shelf cryptocurrency Bitcoin (CRYPTO: BTC) saw Cuban’s disclosure as a chance to ridicule his Dogecoin holdings.
A Twitter user cited that Cuban joined the Doge bandwagon to increase his followings.
“wtf! you were on the risel until this. $494? Practice what you preach. How could you have major holdings in TITAN but only $494 in DOGE? Feels like you joined the doge bandwagon to increase your following”— Mo$ (@sourappL) August 15, 2021
Another user opined: “No, he means exactly that. $494 @mcuban is wise enough to not invest $494k. Like he said, he’s just having fun with it and the community. #Doge is exciting, and so is the circle. Fun isn’t a sound investment. Money put into the doge is different from any other expense.”
Responding to these tweets, Cuban stated that he has always talked openly about his holdings.
“I always state what I’ve bought or owned,” he tweeted. “Just pay attention to my timeline.”
Mark Cuban, the Dallas Mavericks basketball team owner, and Shark Tank investor, has reported that he owns 3.250 Dogecoin with his son after buying on a whim at $1 per coin. He tweeted Sunday evening that “Between my Mavs account (which is what I am talking about) and personal account it’s less than 15k in DOGE.”
Mark Cuban is a Shark Tank star and internet entrepreneur who grew to become the founder of Broadcast.com, which was sold for $5.7 billion to Yahoo in 1999. He has an estimated net worth of over $5 billion today, according to Bloomberg Billionaires Index.
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