AP Photo / David J. Phillip
In another sign that dogecoin may be going beyond its roots as a meme token, the Dallas Mavericks is ready to start accepting cryptocurrency as payment for tickets and goods.
Owner Mark Cuban told DealBook on Thursday that he and his basketball team decided on this, “because we can!” The billionaire businessman added, “Sometimes, in business, you have to do things that are fun.”
This is not the first time that the team has accepted cryptocurrency as a form of payment. In May 2019, the team started accepting bitcoin “to offer global Dallas Mavs fans a perfect experience for buying goods”. Like bitcoin, dogecoin transactions will be made through BitPay, a cryptocurrency payment processor.
The legendary investor and host of the Shark Tank became interested in dogecoin, often making his feelings public through Twitter. More recently, he tweeted about buying dogecoin to teach your child to invest.
Dogecoin, having a Shiba Inu as a mascot, was created as a joke in 2013, but has since gained prominence thanks in large part to the attention given by great players like Elon Musk and Snoop Dog, among other celebrities. In February, Musk made the price of cryptocurrency soar 25% with just a one-word tweet.
Dogecoin also got a boost on Monday, when bitcoin ATM company CoinFlip tweeted that dogecoin fans can now buy the cryptocurrency with cash at any of its 1,800 locations across the country.
Despite the volatility of the cryptocurrency, dogecoin has seen a steady increase in recent months. It is an increase of 825.24% in the accumulated result for the year. The valuation briefly hovered around a $ 10 billion market valuation, making it more valuable than several well-known companies.
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