AP Photo / David J. Phillip
In another sign that dogecoin could move beyond its roots as a memo sign, the Dallas Mavericks will want to accept the cryptocurrency as payment for tickets and merchandise.
Owner Mark Cuban told DealBook on Thursday that he and his basketball team had decided on this, “because we can!” The billionaire entrepreneur added: “Sometimes you have to do things that are fun in the business world.”
This is not the first time that cryptocurrency has been accepted as payment. In May 2019, the team began accepting bitcoin “to give Dallas Mavs global fans a seamless buying experience.” Like bitcoin, dogecoin transactions will be done through BitPay, a cryptocurrency processor for payment.
The legendary investor and Shark Tank host took an interest in dogecoin and often expressed his sentiments via Twitter. Recently he tweeted about buying dogecoin to teach his son about investing.
Dogecoin, with a Shiba Inu as mascot, was created as a joke in 2013, but has since come into the spotlight especially, thanks to the attention given by big players like Elon Musk and Snoop Dog among others celebrities. Musk raised the price of the cryptocurrency by 25% in just one word tweet in February.
Dogecoin also received a boost on Monday when bitcoin ATM company CoinFlip tweeted that fans of dogecoin can now buy the crypto currency with cash at any of its 1800 locations nationwide.
Despite the volatility of the crypto-currency, dogecoin has had a steady climb in recent months. This is 825.24% higher than the previous year. The valuation briefly hovered around a market valuation of $ 10 billion, making it more valuable than a number of well-known companies.
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