Mark Cuban is moving the Dogecoin.
After saying last month that the prank cryptocurrency “has no intrinsic value,” the billionaire owner of the Dallas Mavericks said Thursday that he decided to accept Dogecoin as a payment option for fans of his NBA franchise.
“The Mavericks have decided to accept Dogecoin as payment for the Mavs’ tickets and merchandise for a very important and momentous reason, because we can!” Cuban said in a press release.
“We chose to do it because sometimes in business you have to do fun, attractive things and hopefully generate a lot of public relations,” Cuban added. “So we will take Dogecoin, today, tomorrow and possibly forever.”
Dogecoin, a coin that was launched in 2013 as a literal joke about a dog meme by software engineers, is great for kids who want to learn about finance, Cuban said.
“Dogecoin is less than a dime. You can buy $ 1 or $ 10 and have fun watching it all day, ”Cuban told Forbes in January. He said that he bought some for his son and that “they look at it and discuss all the price movements and why they happen. It’s fun and educational for him. “
Last month, Tesla CEO Elon Musk raised the price of Dogecoin by claiming that he bought some for his young son, X Æ A-Xii.
“I bought Dogecoin for Lil X, so he can be a little boy,” Musk tweeted.
As of noon on Thursday, Dogecoin was valued at just over 5 cents. That’s against Bitcoin, the father of all cryptocurrencies that has been hovering around a $ 50,000 valuation in recent weeks.