Bitcoin will never be a hedge against inflation, while Dogecoin is 'good for spending,' Mark Cuban opined.
Not long ago, his NBA team started accepting bitcoin and other crypto payments for game tickets and merchandise on its online store. However, the club’s owner explained that fans are not keen on spending their bitcoins as theyOn the other hand, many employ Dogecoin for purchases as they have an entirely different attitude towards the meme token:
“We sell thousands and thousands of dollars per month during the off-season, and once the season starts, I expect that to happen per week in Dogecoin – and that’s really because it’s easy to spend, it doesn’t appreciate so much that people want to hold it forever.”In his most recent tweet, Cuban reiterated that Dogecoin is “good for spending and better than a lottery ticket.”
Cuban added that it might have lost some significant ground during the current cryptocurrency dip, but it has marked a notable performance for the last 12 months. As of writing these lines, DOGE is up nearly 1,700% on a 12-month timeline. Speaking of his personal investment in the meme coin, Cuban recently revealed he had increased it from $500 to $1,500, explaining he bought “a little bit more for fun.” Back then, he described Dogecoin as a way to understand how digital assets function, not a successful investment tool:
“I’ve never told anybody it’s a great investment, I’ve often said it’s a great way to understand how cryptocurrency works, how to invest in the market.”
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