Dallas Mavericks owner Mark Cuban has once again shown his love for Dogecoin DOGE/USD over apex cryptocurrency Bitcoin BTC/USD.
What Happened: Cuban agreed with a comment by a Twitter user that Dogecoin and its knockoff coins are the “gateway drug” to Bitcoin.
— Mark Cuban (@mcuban) January 18, 2022
A gateway drug refers to an introductory drug whose use is thought to lead to the use of more severe drugs over a period of time.
Other Twitter users responded to the tweet by showing their support for either Dogecoin or Bitcoin.
One Dogecoin supporter said he would not have owned the amount of Bitcoin that he currently holds without the help of Dogecoin.
Dunno about kissing their ass? Bitcoin was/is inevitable. But I do agree that it sped up the process and gave retail tadpoles like me a chance to double(or better) there money. I wouldn’t own near the amount of #BTC I do without Doge.
— Mike Markle (@KindCryptoGuy) January 17, 2022
Another Twitter user said he feels that Dogecoin is the gateway drug to more meme cryptocurrencies, while a Bitcoin fan said that the apex cryptocurrency introduced him to the world of cryptocurrencies.
Wrong mate. #Doge is gateway drug to more memecoins. Honestly thats what i think sir.
— Chris Lee (@ChrisLee77777) January 17, 2022
See Also: How To Buy Dogecoin (DOGE)
Why It Matters: Cuban is a big proponent of Dogecoin — which shot to prominence last year, in major part due to endorsement from Tesla Inc. TSLA CEO Elon Musk.
The Dallas Mavericks became one of the first entities to begin accepting Dogecoin for ticket purchases and merchandise in March last year and a slew of other companies — including AMC Entertainment Holdings, Inc. AMC — followed suit.
The meme cryptocurrency is also seeing high interest from retail investors.
Last week, Cuban defended his comments about Dogecoin being better suited for payments than Bitcoin and said that the apex cryptocurrency will never be a hedge against inflation.
Price Action: Bitcoin is down 0.9% during the past 24 hours, trading at $41,847.96 at press time, while Dogecoin is down 1.9% to $0.1663.
Photo: Courtesy of Gage Skidmore via Wikimedia
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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