Cryptocurrency is still a relatively new concept, one that the majority of society has not fully adopted. Whether you’ve embraced the idea of decentralized currency or not, there’s one notorious crypto in particular that you’ve probably heard about: Dogecoin.
Learn More: 5 Expert-Recommended Alternative Investments: How They Work and When To Invest
Try This: 6 Subtly Genius Moves All Wealthy People Make With Their Money
Dogecoin (DOGE) is a peer-to-peer, open-source cryptocurrency. It’s considered an altcoin and was launched in December 2013 with the image of a Shiba Inu dog named Kabosu as its logo. It was originally established in 2013 by creators Jackson Palmer and Billy Markus.
While many people have not jumped on the crypto bandwagon yet, billionaire Mark Cuban has. The “Shark Tank” star and the owner of the Dallas Mavericks, has a real-time net worth of about $5.7 billion as of October 9, 2024, according to Forbes.
Read next: 2 Best Ways To Invest $1 a Day — and What It Can Grow To
He’s a believer in DOGE, so much so that three years ago he agreed to start accepting it as payment for his basketball team, the Dallas Mavericks.
Trending Now: Boomers Hold Half of U.S. Wealth–So Why Are Thousands Living Without Homes?
Dallas Mavericks Started Accepting DOGE Back in 2021
Cuban decided to start accepting DOGE as a form of payment for Dallas Mavericks merchandise and tickets.
“The Mavericks have decided to accept Dogecoin as payment for Mavs tickets and merchandise for one very important, earth-shattering reason, because we can! … We have chosen to do so because sometimes in business you have to do things that are fun, engaging, and hopefully generate a lot of PR. So we will take Dogecoin, today, tomorrow, and possibly forever more …,” said Cuban.
Benzinga explained that the Mavericks saw $122,000 in Dogecoin sales over its first month and the team even set multiple 24-hour records with strong demand for using the meme coin towards merchandise.
So, how much would you have today if you jumped on the DOGE bandwagon three years ago?
How Much DOGE Would You Have Today?
Dogecoin hit a high of $0.05109 on March 4, 2021, when the Mavericks started accepting it as payment. A $1,000 investment at the time could have purchased 19,573.30 Dogecoin.
Based on today’s price of DOGE at about $0.108611 per coin, a $1,000 investment in Dogecoin today will get you only 9,207.17 Dogecoin. Considering the price of DOGE has roughly doubled since then, you’d get 53% fewer coins today.
However, if you invested the same $1,000 in Dogecoin on March 4, 2021, it would be worth $2,125.90 today. This represents an impressive 112.59% gain over the last three and a half years.
More From GOBankingRates
This article originally appeared on GOBankingRates.com: If You Bought $1K in Dogecoin When Mark Cuban’s Mavericks Got In, Here’s How Much You’d Have Now
#Bought #Dogecoin #Mark #Cubans #Mavericks #Heres #Youd
