Mark Cuban, the billionaire entrepreneur and co-owner of the Dallas Mavericks, has been a vocal supporter of Dogecoin (DOGE/USD) for years. In a 2021 tweet, he famously stated that he would choose Dogecoin over a lottery ticket, reflecting the speculative appeal of memecoins at the time. This statement, made when DOGE was priced at $0.052944, proved prescient. An investment of $1,000 in Dogecoin then would be worth approximately $1,975 today, representing a significant 97% gain.
Cuban’s bullish stance on Dogecoin preceded a bull run for the memecoin, pushing it to all-time highs later in 2021. Notably, the Dallas Mavericks, under Cuban’s ownership, began accepting Dogecoin as payment for tickets and merchandise in 2021. In a recent AMA, Cuban confirmed that the Mavericks still accept Dogecoin. However, despite his early enthusiasm, Cuban reportedly doesn’t hold any DOGE tokens in his personal cryptocurrency portfolio, according to data from Arkham Intelligence.
While Dogecoin remains a popular memecoin, its price has fluctuated significantly since its peak. It remains to be seen whether Cuban’s prediction that Dogecoin is a better investment than a lottery ticket will hold true in the long run. The story of Cuban’s Dogecoin bet serves as a reminder of the volatile nature of cryptocurrencies and the importance of doing thorough research before investing.
