Mark Cuban Reveals How Much Dogecoin He Owns

Dallas Mavericks owner Mark Cuban has disclosed how much he personally owns in meme cryptocurrency Dogecoin DOGE/USD.

What Happened: Cuban, a big advocate of Dogecoin and other cryptocurrencies, said on Twitter that he personally owns $494 worth of Dogecoin. Based on Dogecoin’s price of $0.3360 at press time, the holdings amount to about 1,470 dogecoins.

The Mavs have what we sold in merch. I personally own $494 worth of DOGE

— Mark Cuban (@mcuban) August 15, 2021

See Also: How To Buy Dogecoin (DOGE)

However, fans of apex cryptocurrency Bitcoin BTC/USD saw Cuban’s disclosure as an opportunity to poke fun at his Dogecoin holdings.

A Twitter user accused Cuban of jumping on the Doge bandwagon just to boost his following.

wtf you were on a roll up until this. $494? Practice what you preach. How could you have significant holdings in TITAN but only hold $494 in DOGE?Feels like your jumping on the doge bandwagon just to boost your following

— Mo$ (@sourappL) August 15, 2021

Another Bitcoin fan said Cuban was “smart enough” not to invest $494,000 in Dogecoin.

No, he means exactly that. $494 @mcuban is smart enough to not put in $494k. Like he said, he’s just having fun with it and the community. #doge is fun, and so is the community. Fun doesn’t = a sound investment. Money put into doge is different than any other expense.

— Bitcoin_Oracle (@oracle_btc) August 16, 2021

See Also: Why Is Dogecoin Shooting Higher Today?

Why It Matters: Nevertheless, Cuban has supported Dogecoin while also acknowledging the cryptocurrency's joke origin.

In March, the Dallas Mavericks began to accept Dogecoin as a means of payment for Mavs tickets and merchandise. Cuban revealed in April that Maverick’s sales in Dogecoin jumped up over 550% compared to the prior month.

In an interview with CNBC Friday, the “Shark Tank” fame investor said Dogecoin is the strongest cryptocurrency as a medium of exchange.

Cuban also said in May that he believes Dogecoin has the potential to become a useful currency if more companies adopt the meme cryptocurrency for their products and services.

Price Action: Dogecoin is up 13.9% during the last 24 hours, trading at $0.3360 at press time.
Photo: Courtesy of Gage Skidmore on Wikimedia