Mark Cuban on buying cryptocurrency dogecoin

Though billionaire investor Mark Cuban has warned folks to be cautious with cryptocurrency, he lately mentioned digital belongings — from digital items to cryptocurrencies like bitcoin — would be the way forward for enterprise.

And Cuban has invested in cryptocurrency himself, each in enterprise and personally. In reality, Cuban has an intensive cryptocurrency pockets, which he shared on Tuesday in a Reddit AMA: "I own AAVE and Sushi, along with Eth, BTC and LTC," Cuban mentioned. (AAVE, Sushi and ETH, or ether, are cryptos that run on Ethereum blockchain. LTC, or litecoin, a bitcoin spinoff.)

So what in regards to the a lot talked about dogecoin? The cryptocurrency was created as a parody in 2013, nevertheless it surged over 50% on Thursday after Elon Musk tweeted his assist and it additionally had the eye of Reddit group SatoshiStreetBets in January. (Dogecoin was based mostly on the "doge" meme, which concerned a Shiba Inu canine.)

Still, even with the surge, dogecoin continues to be solely priced at $0.0462 as of 10:49 a.m. ET on Friday. And Cuban doesn’t appear to be a fan.

"If I had to choose between buying a lottery ticket and #Dogecoin … I would buy #Dogecoin," Cuban tweeted on Wednesday. "But please don't ask me to choose between it and anything else."

And that's as a result of buying "lottery tickets are worse than any investment," in line with Cuban.

Indeed, the chances of successful the latest billion-dollar Mega Millions jackpot have been 1 in practically 302.6 million. (Though maybe the only winner of that jackpot may disagree.)

Disclosure: CNBC owns the unique off-network cable rights to "Shark Tank."

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Check out: 

  • Thinking of buying bitcoin? What specialists say about massive crypto issues: 'You should be mentally ready'
  • Mark Cuban: How promoting stamps as a child helped me see why digital belongings are the way forward for enterprise
  • Mark Cuban says his 11-year-old son 'made trades' in AMC, BlackBerry with Reddit's WallStreetBets: 'He hasn't made cash but'

Cryptocurrency Dogecoin surges after Elon Musk tweets assist for itSquawk Box

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