Mark Cuban’s Dogecoin investment shocks fans: Billionaire has Doge worth only $ 500 ?!

Dogecoin took a brief decline when Mark Cuban tweeted that he owned less than $ 500 worth of DOGE. Investors are concerned whether this would be enough to bring the community back to market growth.

The billionaire investor recently made headlines for its support for the meme-inspired token in the cryptocurrency. Because of his enthusiasm, many investors hoped that Cuban would help stabilize the market and help Dogecoin recover.

Dogecoin investment boost backed by Dallas Mavericks

Last week, Cuban promoted Dogecoin as a payment option for the purchase of goods on his NBA team, the Dallas Mavericks. Cuban later posted a follow-up tweet saying that Mavs had become the largest Doge dealer in the world with more than 20,000 transactions. The internet sentiment imagined that Dogecoin would definitely hit $ 1.

Following the announcement, Dogecoin rose nine percent from its initial value of $ 0.2 to a value of $ 0.29.

Mark Cuban Tweets Dogecoin

Since that development, fans have been researching Cuba’s Dogecoin investments. User Joel Heyman asked if it was hypothetically possible to hyperinflate the Dollar and Doge depending on the number of net buyers in the market.

Cuban replied that supply and demand remained unbeaten in the market. Notably, Cuban also dropped the statement, “But DOGE lets you spend $ 1 to own 333 DOGE and have fun as part of a fun community.”

Joel. that goes for everything. Supply and demand are unbeaten. But DOGE lets you spend $ 1 to own 333 DOGE and have fun as part of a fun community. The BTC maxis experience and do the same. They just have a different kind of fun. They like to yell at people at https://t.co/Hy5bh5GNHl

– Mark Cuban (@mcuban) August 15, 2021

Another user, Grand Sacamone, later inquired about the Cuban Doge and BTC who held his personal investment portfolio. The Internet was surprised when Cubans replied that he personally only owned “DOGE worth $ 494”.

The Mavs have what we sold in merch. Personally, I own DOGE worth $ 494

– Mark Cuban (@mcuban) August 15, 2021

Also read: Ethereum, Bitcoin Price Prediction: “Seismic” Change Could Add Value!

According to Market Insider, Cuban’s crypto portfolio consists of 60 percent Bitcoin, 30 percent Ether and 10 percent unnamed coins. Hence, Kuban’s investment in Dogecoin is significantly less than its other fortunes.

Cuban later tweeted, “The DOGE community was strong long before I got involved.” He stressed that the community was responsible for the attractiveness and market value of the crypto coin, which later led him to accept it for Mavs transactions.

Cuban also tweeted that “there is more than $ 15,000 in DOGE between the Mavs and my personal account”. This implies that his support and investment in Dogecoin were directly linked through his Mavs franchise.

And between the Mavs and my personal account it’s over $ 15,000 in DOGE

– Mark Cuban (@mcuban) August 15, 2021

Is Dogecoin a Good Investment?

Earlier this year, Cuban said he and his son own 3,250 Dogecoins, roughly $ 1,700 at this point. However, at the current price of Dogecoin at $ 0.28, down 9.52 percent (according to CoinDesk), their holdings would be below $ 1000.

In summary, Cuba’s support is not directly related to its ongoing investments. Cuban continues to promote Dogecoin as one of the best cryptocurrency transactions for the market today. His sizable income, however, comes from investing in stocks of Amazon and Netflix, selling Mavericks, and even trading Bitcoin and Ether.

Finally, Cuban tweeted, “I don’t pump anything but Mavs merch. BUT, the DOGEsphere is fun. Your memes are great. They are fun. They make fun of yourself. It’s fun to be a part of it.”

I don’t pump anything but Mavs merch. BUT, the DOGEsphere is fun. Your memes are great. You have fun. You make fun of yourself. It’s fun to be a part of. https://t.co/wi6I49yMnL

– Mark Cuban (@mcuban) August 15, 2021 =

Related article: Dogecoin a bad investment? Experts call it “terrible”, but Doge price predictions see massive spikes

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