Famed billionaire Mark Cuban says that consumers are favoring Dogecoin (DOGE) over Bitcoin (BTC) in terms of making payments.
In a new interview with Fox Business, the business tycoon says that customers at his venues are paying in Dogecoin rather than BTC because Bitcoin is an asset that tends to gain value quickly.
“Not a lot of people pay in Bitcoin because it’s really an appreciable asset. It’s a stored value and they want it to go up in value, so you won’t see people pay in it. But a lot of people pay in Dogecoin.”
Cuban, who owns the Dallas Mavericks professional basketball team, says that fans prefer using Dogecoin to purchase tickets and merchandise over BTC, even though the ball club accepts both types of crypto as payment on its website. Cuban says he foresees this trend continuing into the upcoming NBA season.
“We sell thousands and thousands of dollars per month during the offseason, and once the season starts, I expect that to happen per week in DOGE. And that’s really because it’s easy to spend and it doesn’t appreciate so much that people want to hold it forever.”
Cuban had previously made remarks praising Dogecoin as the “strongest” cryptocurrency on the market for making payments.
DOGE is exchanging hands at $0.24 at time of writing while BTC is trading at $53,822, according to CoinGecko.Check Price Action
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/wacomka