Billionaire Mark Cuban, owner of Dallas Mavericks, one of the NBA teams known for his explanations and support about Dogecoin, said in his speech at the Ethereal summit organized by Decrypt, “Dogecoin can reach $1 and become a stable crypto currency that you can use and save.”
Cuban bases his prediction on the idea that trading in Dogecoin is easier, and that it can act more like a currency than Bitcoin. As it is known, while the supply of Bitcoin is limited, not Dogecoin. The Dogecoin supply is growing every year to 5.2 billion DOGE. Supply is not limited in Dogecoin, but the limit for supply increase is 5.2 billion.
Speaking about Dogecoin’s increasing supply of 5 billion every year, Cuban said, “I didn’t realize this at first. DOGE is mined with a limit of 5.2 billion each year. Considering the billions of DOGEs currently on the market, this means an effectively declining inflation rate. There is a limit to the amount of inflation for Dogecoin. And this is a good thing. Whether we like it or not, its reputation is almost a digital equivalent of money. ” He said.
Cuban’s team, Dallas Mavericks, has been accepting Dogecoin for product and ticket sales for a while. Cuban said they are selling much more with Dogecoin than with Bitcoin or Ethereum.
Finally, Cuban stated that people think he owns millions of dollars worth of Dogecoin about him, but that is not the case. The billionaire said, “I only have what was spent on Mavericks and some of those I bought with my son. I’m not trying to inflate prices to make big bucks, I haven’t sold anything. ”