Mark Cuban expects thousands of weekly Dogecoin sales for Mavericks
Dallas Mavericks owner Mark Cuban is doubling Dogecoin’s viability ahead of the NBA regular season announcement later this month. The Shark Tank star predicts the Mavs will cash “thousands and thousands” per week in US dollars through Dogecoin transactions with fans.
“A lot of people pay in dogecoin,” Cuba said on Monday Business fox. “We sell thousands and thousands of dollars a month off season. Once the season begins, I expect this to happen every week in dogecoin. Because it’s easy to spend and doesn’t like it so much that people want to keep it forever.
On March 4 of last season, the Mavericks announcement that fans could use Dogecoin to purchase tickets and merchandise through the team’s online store. At that time, Dogecoin was trading at around $ 0.05, which is half of a dime. Dogecoin is currently valued at around 25 cents after hitting a high of around 69 cents in May.
The Mavericks, in 2019, began accepting other cryptocurrencies such as Bitcoin in partnership with payment processing provider BitPay. Other teams to accept crypto include the Sacramento Kings, San Jose Sharks and Oakland A’s.
NFL players such as Russell Okung and Sean culkin are known to have converted part of their wages into Bitcoin – while stars like Tom Brady and Steph Curry have signed endorsements with a crypto firm FTX. But Cuban doesn’t expect teams to pay their players directly in anything other than traditional dollars.
“It’s okay, but it will eventually [players] will have less money, ”Cuban told Fox Business. “The reason is that there are transaction costs for us to go from dollar to bitcoin and then transfer it to them. So it’s actually easier for them to get paid in cash and then buy bitcoin themselves. ”