- On Sunday, Mark Cuban revealed that he owned only $500 worth of dogecoin.
- Dogecoin’s community, according to the millionaire, makes it the strongest means of trade.
- In May, Cuban and his son claimed to hold 3,250 dogecoins, which were valued around $1,700 at the time.
Despite touting dogecoin as the greatest medium of exchange, Mark Cuban said that he owned less than $500 worth of the cryptocurrency.
After accepting dogecoin as payment for tickets and goods, the billionaire investor and “Shark Tank” star previously stated that his NBA club, the Dallas Mavericks, is the token’s largest merchant.
In a tweet on Sunday, “The Mavs have what we sold in merch,” he added, “I personally own $494 worth of DOGE.”
Cuban was responding to a Twitter user who inquired about the billionaire’s cryptocurrency holdings, specifically whether he prefers dogecoin or bitcoin, but according to trustworthy sources, he has a net worth of $5.8 billion.
Last week, the billionaire told CNBC dogecoin is the greatest cryptocurrency due to its network, a remark that Elon Musk backed up. “The community for doge is the strongest when it comes to using it as a medium of exchange,” Cuban stated.
He considers bitcoin to be a superior medium of exchange than a currency. Despite this, he stated in a March podcast that his crypto portfolio consists of 60% bitcoin, 30% ether, and 10% other unidentified currencies.
The internet millionaire made his money through a series of business agreements over the years, including the $5.7 billion sales of his streaming service Broadcast.com and his ownership of the Mavericks.
“Between the Mavs and my personal account, its let than $15k in DOGE,” he tweeted on Sunday, implying that his team hasn’t sold too many goods in return for dogecoin.
Cuban said earlier this year that he and his 11-year-old kid possessed 3,250 dogecoins valued at around $1,700 at the time. Dogecoin was selling for approximately 50 cents per coin at the time but has since dropped 34% to roughly 33 cents as of Monday. Despite this, according to Tradingview statistics, the cryptocurrency is up over 7,000 percent this year.
If Cuban and his kid still had 3,250 dogecoins, the value of their assets would be around $1,100.
The new disclosure from the investor implies that they either sold some coins or that Cuban isn’t including his son’s coins in his calculations.
Cuban has also stated that Amazon and Netflix are his largest investments, with Amazon stock alone worth “close to a billion dollars.” On Twitter, he was asked why he only cheers dogecoin and not his other assets.
He wrote, “I don’t pump anything other than Mavs merch,”. “BUT, the DOGEsphere is fun. Their memes are great. They have fun. They make fun of themselves. It’s fun to be part of.”