<

Mark Cuban refuted assumptions that he was trying to shill Dogecoin

As AZCoin News reported, since starting to accept Dogecoin as payment for merchandise in March, the Dallas Mavericks organization has seen substantial sales made with the meme-inspired cryptocurrency. With similar comments and initiatives undertaken by Mark Cuban and his team, he faced scrutiny from the ever-vocal cryptocurrency community. Some speculated that the billionaire was trying to shill the meme coin.

Mark Cuban: I do not shill Dogecoin

Cuban stated that DOGE has become “the people’s way to pay” as most of these companies’ clients choose DOGE to buy products with. He subsequently denied allegations by Jason A. Williams, a Bitcoin expert and Morgan Creek Digital partner, about shilling Dogecoin. He stated that he doesn’t shill DOGE. That this is not his goal. Just the opposite, he shows support for Dogecoin because fans tend to use it instead of the more popular options like Bitcoin.

What he does shill, according to him, is services and goods of the companies he owns and runs, and, according to him, the meme crypto DOGE has become a very popular means of payment among the majority of clients. 95% of them choose Dogecoin to pay when buying goods or services from these companies, including merchandise of the Dallas Mavericks team.

During the discussion on Twitter, Cuban asserted that Bitcoin is just a store of value, but it will always struggle to be a currency. He also wrote that a massive concentration of Bitcoin in the hands of whales could be bad for BTC as these entities or individuals can act as a Central Bank and start controlling or/and manipulating the market.

“With BTC, you have too much concentration of wealth with whales. They can act like a Central Bank controlling how and where BTC is available and create deflation/inflation by how much they buy, how much they spend, how much they pay, and what they spend it on”, Cuban stated.

In the earlier part of the year, DOGE demonstrated severe growth. The growth culminated in an all-time high of $0.74 in May. All the same, analysis has indicated that DOGE has benefited from recent market conditions. At the time of writing, DOGE was worth $0.3. It ranked as the 7th most valuable cryptocurrency by market capitalization.

Read more:

Follow us on Telegram

Follow us on Twitter

Follow us on Facebook

You might also like

LATEST NEWS

LASTEST NEWS