Mark Cuban owns a professional basketball team, the Dallas Mavericks. Eight months ago, he announced that they would start accepting Dogecoin payments for tickets and merchandise purchases. In the recent interview with Fox Business, Cuban weighed again in the importance of the Dogecoin payment option.
According to the billionaire, Bitcoin payments don’t get much traction when compared to Dogecoin payments. He elaborated on the reason, saying people are less likely to pay with bitcoin. “It’s really an appreciable asset,” he added.
The Dogecoin payment option have brought a lot of profit for the Dallas Mavericks. In the first month, the sales were up for 550% as more and more people preferred paying via Dogecoins. Cuban says that the customers are most inclined to hold their Bitcoins because they want to profit from them. People treat Bitcoin as a “store of value,” whereas Doge is a short-term investment for most crypto investors.
“A lot of people pay in Dogecoin. 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.” Says Mark Cuban.
If we look at the value of both the coins, the Dogecoin has significantly less weight than Bitcoin. This helps people easily pay with Doge. Its small traction fees and unlimited supply make it an even more viable means of exchange.