Dallas Mavericks accept Dogecoin as method of payment! Mark Cuban announced that the Dallas Mavericks will accept Dogecoin as a method of payment for supporters of the NBA team. Not everyone is a fan of the move, however.
“The Mavericks have decided to accept Dogecoin as payment for Mavs tickets and merchandise for one very important, earth shattering reason, because we can!,” wrote Cuban in a news release.
Mark Cuban isn’t a stranger to endorsing crypto assets. Back in 2019, the Mavericks were the second NBA team to accept Bitcoin as a method of payment – the first were the Sacramento Kings back in 2014.
Cuban’s backing of Dogecoin has raised the ire of some in the crypto community, however, who view Dogecoin as nothing more than a Meme Crypto that is potentially a dangerous asset that shouldn’t be taken seriously, especially by new people in the realm of virtual assets.
“Let’s put people in the safest best stuff, not these joke coins,” Michael Novogratz, told Bloomberg during a Thursday interview, responding to the dogecoin news from the Mavericks, which was first reported by the New York Times.
Novogratz also said that Cuban was making a mistake by endorsing Dogecoin. Dogecoin was created as a joke back in 2013 and has been falling over the last few weeks after reaching a record high in early February.
Critics of Dogecoin say that it has limited utility compared with other decentralized assets, including Bitcoin. However, Bitcoin is considered a scam by crypto skeptics, and the same arguments in favor of Bitcoin are the same arguments used by gold bugs as well as Dogecoin supporters.
Dogecoin saw a surge in value in February – some attribute its meteoric rise to Elon Musk, who tweeted about it. Others including Snoop Dogg and Gene Simmons have joined Musk in tweeting about Dogecoin.
But as many people there may be joking about Dogecoin AND Bitcoin, there is no doubt that investors are the ones laughing to the bank as Bitcoin prices have surged to $47,500.
What do you think? Let us know on our Facebook page!
