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Billionaire Mark Cuban continues to face with the Dogecoin neighborhood
Billionaire Mark Cuban has as soon as once more bucked heads with Pennsylvania-based entrepreneur and podcaster Preston Pysh on Twitter over Dogecoin.
After complaining about out-of-control cryptocurrency spam on Twitter, Cuban confronted criticism from Pysh for “pumping” Dogecoin, the unique meme cryptocurrency, again in Might.
Now do a 1 yr efficiency comparability. I stated Doge was good for spending and higher than a lottery ticket. You continue to assume btc is an inflation hedge ? It’s not and by no means will probably be. Doge/btc is flat final 30 days. #maxisgonnamaxi #btcisdigitalgold
— Mark Cuban (@mcuban) January 11, 2022
In response, the Dallas Mavericks proprietor defended his feedback about Dogecoin being good for spending. Cuban believes that the meme coin’s inflationary dynamics can really make it a greater forex, which is one thing that Tesla CEO Elon Musk agrees with.
Dogecoin co-founder Billy Markus got here to Cuban’s protection, claiming that it’s annoying when keyboard warriors misrepresent folks’s phrases.
The flagship canine coin is now down a whopping -80.24% from its all-time excessive that was recorded again in Might.
Cuban, nevertheless, factors to the truth that Dogecoin has vastly outperformed Bitcoin over the previous yr.
As reported by U.At this time, Cuban and Pysh had a confrontation again in October throughout a heated reside audio dialog on Twitter Areas. The “Shark Tank” star stated that he would proceed speaking about Dogecoin regardless of dealing with pushback from Bitcoin maximalists. Cuban stated that it was “enjoyable” to be a part of the meme coin’s neighborhood.
Bitcoin just isn’t an inflation hedge
Though Cuban warmed as much as Bitcoin throughout his cryptocurrency journey final yr, he nonetheless doesn’t see the benchmark cryptocurrency as an inflation hedge. In his most recent tweet, he says that Bitcoin will “by no means” turn out to be one.
He believes that the “inflation hedge” time period is getting used as a advertising slogan by each Bitcoin and gold promoters.
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