Billionaire Mark Cuban Explains Why Dogecoin Is A Preferable Payment Method Over Bitcoin

Cuban who owns the professional basketball team, the Dallas Mavericks, has been vocal about his support for Doge being used as a payment method. Fans of the team are able to purchase tickets and merchandise from its website using Doge after Cuban had announced eight months ago that they would start accepting Dogecoin payments.

Cuban explained to Fox Business why the Dallas Mavericks had chosen to add Dogecoin payments to its website. The basketball team has accepted and still accepts Bitcoin payments for tickets and merchandise. But the billionaire explained that bitcoin payments had not gained more traction. Cuban said that people are less likely to pay with bitcoin because “it’s really an appreciable asset” and people are more inclined to hold their bitcoins because they want to make a profit from it.

Why Dogecoin Is Better
Cuban’s push for Dogecoin payments has paid off for the Dallas Mavericks in big ways. In its first month, Dogecoin sales had grown 550% for the basketball team and the billionaire confirmed that they have continued to see great sales with Doge. Unlike Bitcoin, people are more inclined to pay with Dogecoin for merchandise and tickets. This is because bitcoin is treated as a “store of value” and Doge is more a short-term investment for most crypto users.

Source : bitcoinist.com