Dogecoin, better than a lottery ticket: Mark Cuban

Mark Cuban praises Dogecoin on The Ellen Show. Additionally, he remarks the cryptocurrency is a whole lot better than Lottery Ticket.

The cryptocurrency, dogecoin, makes an appearance on daytime TV, The Ellen Show. This appearance could make it move into the mainstream.

Dogecoin on “The Ellen Show”

A billionaire, Shark Tank personality, and Dallas Mavericks owner and an enthusiastic investor, Mark Cuban, was on The Ellen Show earlier this week. Consequently, on the famous talk show, the millionaire explained the dogecoin phenomenon. 

The show tuned in by millions of viewers of Ellen DeGeneres’ daytime talk show on Tuesday, heard Cuban’s opinion. On the show, viewers saw Cuban describing the much-hyped cryptocurrency as a whole lot better of an investment than a lottery ticket.

“Cryptocurrency is just an asset to invest in. Bitcoin is sort of like a digital variant of gold. Similarly, Ethereum is a digital variant of a currency,” Cuban told DeGeneres. “And then you got dogecoin, which is just enjoyable. But the weird element about it [is] it went from being a cryptocurrency crack to now becoming something that’s shifting into a digital currency,” he added.

The impact of Cuban’s statement

Besides dogecoin, Cuban and DeGeneres also discussed non-fungible tokens in the episode. Subsequently, Cuban described the tokes as “just a digital collectible that you can purchase, hold, exchange like any other collectible.”

Following the episode with Cuban, DeGeneres tweeted on Monday in a similar context. Conclusively, seemingly convinced by Cuban, she is now auctioning an NFT to help World Central Kitchen.

The effect further lies in the fact that Cuban explained dogecoin on “Ellen,” a daily talk show with an aggregate of 1.5 million spectators. Additionally, many viewers are women beneath the age of 54, which could cause the Shiba Inu-themed crypto toward the mainstream.

Cuban’s own take on the Crypto

Cuban revealed that his 11-year-old son, Jake, is linked in dogecoin. Their inclusion in the digital led to the two Cubans buying “$30 worth.”

“So the mystery everyone wants to know, is dogecoin a good purchase? And here’s the logic of why I got Jake into it,” further Cuban comments.

He claims that the digital coin is not indeed the best investment you can execute. Although, one can purchase it on Robinhood since signing up and dealing on Robinhood is free. “So that’s one thing,” Cuban said.

The secondary thing Cuban says is that it’s about 26 cents per dogecoin. So if one goes and contributes five, 10, 15 dollars, that’s a more significant purchase than buying a lottery ticket.

“And you know what? It could go up,” he continues. “It’s also maturing as a digital currency, which is terrific if you think back to its roots.”

 

Image courtesy of Cointelegraph News/YouTube

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