TL;DR Breakdown;
- Doge to become stablecoin when it hits $1
- Cuban sends message to Robinhood.
- How much Doge Cuban holds.
Amid the recent success and price surge experienced by meme crypto, Dogecoin, billionaire investor Mark Cuban does not think too highly of the crypto.
In the past seven days, Dogecoin enjoyed an 81 percent surge making it climb from number six to the four largest crypto by market cap. The coin also hit a new all-time high price during the rise. However, Mark Cuban is not convinced.
The Dallas Mavericks owner and billionaire investor who spoke about Doge to his 8.3 million Twitter followers think the coin is headed straight for $1. Once it gets there, he says it’ll stay there.
“I kind of think that it might level off at $1 and become somewhat like a stablecoin, where you can use it, you can save it, it’s going to stay pegged,” Cuban said at a staple of the crypto community on Thursday.
Cuban’s reason why Dogecoin would peg at $1
The billionaire said that his prediction is based on the fact that he thinks Doge is easier to transact in, so it could behave more like a currency than Bitcoin. He also spoke about the fact that the eventual supply of the meme coin is not capped like Bitcoin.
Cuban emphasizes that so long Doge is used for something becomes more of utility as a currency.
Cuban’s message for Robinhood
The investor said regarding the meme coin to Robinhood that crashed after Doge’s rise that if they make Doge so easy to spend, they will crush it, and the coin would have a spectacular future, he notes.
Cuban, after addressing Robinhood, then spoke about his crypto holding, revealing that he owns just thousands in Doge and not millions like people think.
“People think that I own millions of dollars worth of Dogecoin, I don’t,” he said. “I own what was spent with the Mavs and some I bought with my son.”
