MicroStrategy co-founder Mark Cuban has released yet another statement that advocates the use of Dogecoin. Cuban said that DOGE beats Bitcoin when it comes to payment transactions.
The billionaire, who also owns the Dallas Mavericks, has turned the NBA team into a Dogecoin powerhouse by enabling them to support the meme coin in very big ways. Mavericks fans can now purchase the basketball team’s tickets and merchandise from its website using Dogecoin.
In an interview with Fox Business, Cuban explained why the basketball team preferred to support Doge more than any other cryptos, especially Bitcoin. He said that when the team opened itself for crypto payments, they discovered that Doge became the more preferred payment method of their fans.
According to Cuban, the reason behind this is that Bitcoin is an appreciable asset, that’s why people prefer to hold it and wait for it to grow in value, rather than use it on payment transactions.
Dogecoin, on the other hand, has less value compared to BTC, that’s why it’s easy for people to part ways with their Doge and use them for payments.
550% sales growth
The Mavericks’ support for Dogecoin was indeed a very rewarding move. Cuban said that in the first month of the team’s Dogecoin payment support, DOGE sales had grown 550%, and it is still growing.
Bitcoin excels more as a store of value and this is the reason why people prefer to hold it. Doge has the edge of being a more preferred short-term investment.
Bitcoin as players’ salary
Cuban said that it wouldn’t be a big deal if all Mavericks players would prefer Bitcoin payments, whether partial or full.
What he is concerned about is the conversion and transaction fees that would be involved in converting Bitcoin salaries into dollars. With these fees, players would certainly get less Bitcoin in the end. To avoid these problems, Cuban prefers to pay the players in dollars and let them invest in any cryptos they prefer.
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