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Dallas Mavericks owner Mark Cuban says will hold dogecoin in balance sheet

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Shivangi Mujumdar Follow

INDIA

Apr, 24 2021

Apr, 24 2021

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Dogecoin (DOGE) is rising and falling presently, setting an all-time high value just above $0.11 within the last 24 hours—an additional 100% leap over the last week. Now, one of Dogecoin’s highest-profile exponents says that one of his businesses is holding the meme-based cryptocurrency on its balance of payments for good. 

 

The NBA’s Dallas Mavericks have seen a growth in customers using Dogecoin to acquire team merchandise. 

 

Owner Mark Cuban tweeted that the group will “never sell” the DOGE it obtains. 

 

In its place, its billionaire investor Mark Cuban—his NBA team the Dallas Mavericks is holding onto any Dogecoin that the team's fans employ on tickets and merch. 

 

A moment ago, Cuban exposed that the Mavs had partnered with BitPay to receive Dogecoin for purchases. Last night, Cuban tweeted that the team has seen a spike in DOGE expenditure and that it won’t share with the coin at all. 

 

?FYI, the Mavs sales in Dogecoin have enlarged 550% over the past month, Cuban tweeted in response to a tweet about the rise in the coin’s price. We have now sold an extra 122k DOGE in merchandise! We will not ever sell 1 single DOGE. so keep purchasing. 

 

Brief on Dogecoin earlier status: 

 

Dogecoin is now the 10th largest cryptocurrency, as per coinGecko. The cryptocurrency has scored up a total market capitalization of over $18 billion, aggressive it into the top 10 cryptocurrencies. 

 

A cryptocurrency that was shaped like a joke exploded into pure view on Wall Street on Monday, with a surge in dogecoin directing its 2021 return above 8,100%—more than double the increase on the S&P 500, let in dividends, since 1988. 

 

Dogecoin’s rise from a peculiar meme into a broadly traded asset worth about $50 billion—more than Marriott International Inc. or Ford Motor Co.—is the hottest act of financial alchemy by speedily moving individual investors who have used contact to no-fee trading platforms and a wave of government impetus money to alter markets over the past year. 


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Shivangi Mujumdar

CBW - External Analyst

INDIA

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