Beautiful Virgin Islands

Tuesday, Jun 24, 2025

Mark Cuban Advocates Dogecoin For Payments, Elon Musk Agrees

Mark Cuban Advocates Dogecoin For Payments, Elon Musk Agrees

Mark Cuban, billionaire investor and owner of the Dallas Mavericks, shared with CNBC that he thinks Dogecoin has a solid use case as a payment method. DOGE community is the “strongest” when it comes to Dogecoin as a means of exchange, he said.

“It’s a medium that can be used for the acquisition of goods and services. The community for doge is the strongest when it comes to using it as a medium of exchange.”

Tesla and SpaceX CEO, Elon Musk who has been supporting Dogecoin, chimed in his agreement on the matter.

An objective examination of the qualities of “strong” payment coins, such as throughput and low transaction costs, however, shows better options do exist. Although, when has the world ever adopted the ‘best technology’ on anything?

Dogecoin Use Cases

Earlier this year in March, as Dogecoin was about to make its epic run-up, the Dallas Mavericks announced they would start accepting DOGE for tickets and online merch.

The move was somewhat groundbreaking as it showed the world, and those who were keen to point out Dogecoin’s lack of use cases that a large scale business can adopt doge as payment.

Cuban said the decision to do this was based on nothing other than the fact that they can. He added that the benefits of the move would hopefully bring about positive PR.

“Because we can, we have chosen to do so. We have chosen to do so because sometimes in business you have to do things that are fun, engaging and hopefully generate a lot of PR. So we will take Dogecoin, today, tomorrow and possibly forever more.”

Just five weeks later, Cuban tweeted that it was an outstanding success, with more than $122k of merch paid for with DOGE. He also said he intends to keep every DOGE earned.

Since then, both Cuban and Musk have continued to reiterate their support for Dogecoin.

Last week, Cuban tweeted an offer of “special pricing” for merch buyers paying with DOGE. While Musk’s SpaceX recently announced plans to pay for adverts, beamed into the sky by satellite, using cryptocurrencies including Dogecoin.

Comparing Cryptos for Payment

Cuban and Musk have been vocal to push the payment narrative for DOGE, but there are other cryptocurrencies that in fact are cheaper to use and feature higher throughputs.

Data from bitinfocharts.com shows the average Dogecoin transaction fee comes in at $0.772. Whereas for Litecoin it’s just $0.015, while XRP is fractions of a penny.

Similarly, transactions per second for Dogecoin is rated at 33, while Litecoin is 56, and XRP is a whopping 1,500.

But the Dogecoin advocates, Cuban included, argue that DOGE for payments is about much more than just the raw numbers. Instead, as Cuban said, it’s also about the community response, which is extremely important.

DOGE Price Action

Dogecoin dipped along the rest of the crypto market. From peak to trough, DOGE suffered a 58% fall in price, bottoming at $0.16 in mid-June.

Since then, it has tested this support level on two further occasions, but failed to gain bigger momentum.

Nonetheless, early August saw a fightback leading to a decisive move above the 50-day moving average. DOGE has gone on to build on this momentum leading to a 27% gain since the breakout.

At the time of writing Dogecoin is trading at $0.32 with 29.11% gains on the weekly chart.

Cuban was quick to dismiss any insinuations that he would be pumping the DOGE price. If anything he “pumps” Mavericks merchandise products.

Source: Mark Cuban Advocates Dogecoin For Payments, Elon Musk Agrees – Fintechs.fi

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
×