Cuba on DOGE and SHIB: ‘I never said they were a great investment’
- Posted on June 6, 2022
The billionaire investor talks about investing in Dogecoin and Shiba, warning they are ‘not a great investment’
Billionaire investor and Dallas Mavericks owner Mark Cuban has warned against investing large sums of money in cryptocurrencies like Dogecoin.
and Shiba Inu
What happened
VYGVF 3.28% at a recent press conference announcing a partnership with Voyager Digital Ltd
With the Dallas Mavericks, Cuban offers some advice for novice crypto investors.
“You don’t need to spend a lot of money to learn. It’s not like the stock market, except on some platforms, where it’s almost impossible to get started for $10,”Cuban said in response to whether it’s” too late”to enter the cryptocurrency space pointed out.
Cuban explained that his 12-year-old son first inspired him to invest in Dogecoin, which cost less than a penny at the time. The investor sees this as an economic opportunity for his son to “learn how it all works.”
He believes the same logic can be extended to anyone entering the crypto world for the first time today, where users can invest as little as $5 in Dogecoin and Shiba Inu.
“But another problem is, you see, there are some investments, like Shiba Inu and Dogecoin, which are not investments,” he added.
Earlier this year, Cuban said he thinks the reason Dogecoin is so popular in Mavericks stores as a payment method is that it’s easy to spend and doesn’t get enough attention that people want to keep it forever.
“I never told anyone it was a great investment,” Cuban said. “I often say it’s a great way to understand how cryptocurrencies work, how to invest in the market, and if you want to hit a home run, it’s a better investment than the lottery.”
price fluctuation
At the time of the last review, DOGE was trading at $0.2732, up 3.8% over the past 24 hours. SHIB is up 16% over the same period and was last trading at $0.00007216 at the time of the check.
The billionaire investor talks about investing in Dogecoin and Shiba, warning they are ‘not a great investment’