Billionaire Mark Cuban revealed that he owns $494 worth of Dogecoin, Fortune magazine reported.
Cuban, the owner of the Dallas Mavericks and a billionaire investor, has been outspoken about his appreciation for the coin, which has often been seen as a joke. He said the coin is best used for transactions for buying goods or services, and he said the Dogecoin community is the strongest crypto community when “it comes to using it as a medium of exchange,” according to the report.
Cuban said in May that he owned 3,250 Dogecoin with his son, the report stated. The Mavericks are also the first team to accept Dogecoin as payment for tickets and merchandise. Cuban has said the team plans to offer special pricing for those paying with Dogecoin for the team’s summer sale.
While Cuban came under fire on Twitter for supporting Dogecoin, he said he has never hidden anything about his holdings, according to the report.
“I’ve said all along what I’ve bought or owned,” he said, per Fortune. “Just pay attention to my timeline.”
He added that, overall, he owns less than $15,000 in Doge between the Mavericks and his personal account, the report stated.
Earlier this week, Cuban’s praise for Dogecoin consisted of him saying the communal aspect of it could make it a strong cryptocurrency. That invited a reply from fellow billionaire and Tesla CEO Elon Musk, who said he had also been saying the same thing.
Read more: Mark Cuban Backs Dogecoin
The Dallas Mavericks have also been considering getting into nonfungible tokens (NFTs).
“With the [Mavericks], we’re trying to find a good option for turning our tickets into NFTs,” Cuban said previously, adding the team wants “to be able to find ways so that not only can our consumers, our fans, buy tickets and resell them, but we continue to make a royalty on them.”