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Cryptocurrency is still a relatively new concept and has not been fully adopted by the majority of society. Whether you embrace the idea of decentralized currencies or not, there’s one infamous cryptocurrency that you’ve probably heard of. It’s Dogecoin.
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Dogecoin (DOGE) is a peer-to-peer open source cryptocurrency. It is considered an altcoin and was launched in December 2013 using the image of a Shiba Inu named Kabosu as its logo. It was originally founded in 2013 by creators Jackson Palmer and Billy Marcus.
While many people haven’t jumped on the crypto bandwagon yet, billionaire Mark Cuban has jumped on board. The “Shark Tank” star and Dallas Mavericks owner has a real-time net worth of approximately $5.7 billion as of Oct. 9, 2024, according to Forbes.
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He’s a believer in DOGE, so much so that three years ago he agreed to start accepting DOGE as payments to his basketball team, the Dallas Mavericks.
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Dallas Mavericks will begin accepting DOGE in 2021
Cuban has decided to begin accepting DOGE as a payment method for Dallas Mavericks merchandise and tickets.
“The Mavericks have decided to accept Dogecoin as payment for Mavs tickets and merchandise for a very important and earth-shattering reason. Because we can do it!” So, I made this choice because sometimes you have to do something that will hopefully generate a lot of PR. So we’re going to embrace Dogecoin today, tomorrow, and maybe forever…” Cuban said.
Benzinga explained that the Mavericks reached $122,000 in Dogecoin sales in the first month, there was strong demand for meme coins to be used in merchandise, and the team set multiple 24-hour records.
So, if you jumped on the DOGE bandwagon three years ago, how much would you have today?
How much DOGE will you drink today?
Dogecoin hit a high of $0.05109 on March 4, 2021, when Mavericks started accepting it as payment. At that time, a $1,000 investment could have bought you 19,573.30 Dogecoin.
Based on today’s DOGE price of approximately $0.108611 per coin, if you invest $1,000 in Dogecoin today, you will only get 9,207.17 Dogecoin. Considering that the price of DOGE has roughly doubled since then, there are 53% fewer coins available today.
However, if you invested that same $1,000 in Dogecoin on March 4, 2021, it would be worth $2,125.90 today. This represents a staggering 112.59% increase over the past three and a half years.
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This article originally appeared on GOBankingRates.com: If you bought $1,000 in Dogecoin when Mark Cuban’s Mavericks came in, how much would you have now?
