Dogecoin soared 40% after American billionaire Mark Cuban called DOGE “the strongest currency”, and Tesla CEO Elon Musk backed that up.
A few days ago, the owner of the Dallas Mavericks basketball club, Mark Cuban, announced that when paying for the club’s sports attributes in the DOGE cryptocurrency, people will be able to buy them at special prices. However, it is unclear whether DOGE owners will receive any discounts on Dallas Mavericks attributes or other offers. Later, in an interview, Kuban called DOGE the most sustainable crypto asset when it comes to using it for payments.
“People don’t understand that DOGE’s weaknesses and its simplicity are its strengths. There are only two things you can do with DOGE: either spend it or keep it. Both are easy to deal with. Plus, DOGE is cheap and anyone can join the Dogecoin community. ”
wrote Cuban on Twitter.
Tesla and SpaceX CEO Elon Musk agreed with the billionaire’s statement, writing back, “I’ve been talking about this for a long time.” After that, the comic cryptocurrency jumped by 12.5% per day, and in a few days its rate increased by more than 40%. DOGE is trading around $ 0.35 today. Despite the significant gains, Dogecoin is still 54% below the $ 0.73 high reached on May 8th.
“I don’t advertise DOGE. I only offer products and services of my companies. Where we allow people to pay with any cryptocurrency, 95% of sales come from DOGE. We can argue about anything about bitcoin, but now our clients prefer to pay with DOGE ”, –
stated Kuban.
Cuban’s words were not the only factor that pushed the DOGE rate up. Over the weekend, it became known that the English football club “Watford” also became a supporter of this cryptocurrency. The club team will wear the Dogecoin logo on the sleeves of their jerseys for the 2021-2022 season. In addition, sports betting site Stake.com plans to give away 10 million DOGE (about $ 3.3 million) to users so that they can spend coins on the platform.
Earlier, Kuban spoke out in support of Bitcoin, calling it a suitable asset for hedging risks, unlike gold.
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