Billionaire Mark Cuban Believes Dogecoin (DOGE) Is Usable Currency


Mark Cuban claims that Dogecoin (DOGE) could gain some value due to the increased utility.

Mark Cuban claims that Dogecoin (DOGE) could gain some value due to the increased utility.

Billionaire Mark Cuban believes Dogecoin could potentially become a viable currency, according to a recent tweet series:

“Teat coins like DOGE only work if they benefit and users use them for this utility.”

Cuban’s NBA team Dallas Mavericks began adopting Dogecoin in early March, paving the way for wider adoption. Since then, many major companies have started accepting cryptocurrency , including the online electronics store Newegg .

As previously reported by U.Today, DOGE now accounts for 10 percent of all BitPay transactions.

Dogecoin Infinite Supply

Dogecoin has an inflationary supply with around 5.2 million new coins coming into circulation each year. This is believed to be one of the main risks of cryptocurrency. The more money enters the market, the harder it will be to maintain current price levels.

However, Cuban sees Dogecoin’s infinite supply as its strength because it can gain traction as a digital currency instead of a store of value:

“Any entity with inflation by definition is infinite, but that doesn’t reduce it. The utility converts from a store of value to potentially a digital currency. “

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