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Following the news about the Dallas Mavericks including Dogecoin as one of the accepted methods for the ticket purchase, crypto billionaire Mike Novogratz called the decision a mistake. According to him, Dogecoin remains a joke cryptocurrency and everyone should return their focus back on Bitcoin.
The owner of the Dallas Mavericks Mark Cuban said on Thursday he’s decided to let this NBA team start accepting Dogecoin as one of the payment methods. This way, Cuban is getting on the bandwagon of the recent increase in popularity of this cryptocurrency, which started out as a joke.
Its creators did not have too big plans for it at the beginning, but the crypto has grown over the years to become one of the biggest players in the crypto universe. Its biggest price surge happened last month when Elon Musk endorsed Dogecoin on Twitter.
Still, not everyone believes there should be such hype about Dogecoin. One of the people who have been vocal about the insecurity of Dogecoin investments is Mark Novogratz. In a recent interview, he called Cuban’s decision a mistake.
“He’d be better off with 15 other ways to pay for his tickets.”
He also warned the public about the recent trend among younger investors who have spent a lot of money buying Dogecoin, which, in his opinion, is far from being a safe investment. Instead of investing in Dogecoin, Novogratz believes people should focus on nothing else but Bitcoin.
A self-professed crypto enthusiast, whose predictions about the Bitcoin future came true, Novogratz now claims we could see the digital currency going above $100,000 this year. He is not the only one who thinks that. The same goes for the Bloomberg analyst who predicted Bitcoin was going to break the $50,000 this year.
At the moment of writing, Bitcoin price is under 50k, somewhere in the range of $48,500. The price did rebound this week after dropping to nearly $45,000 on the last day of February.
But just a few days before that, we saw Bitcoin breaking its all-time high. On Sunday, February 21, the price of one Bitcoin was $57,489.10 at Coinbase. Is (or better say when) one such surge is going to happen again?
According to Bloomberg’s analyst Mike McGlone, such a scenario seems very likely to play out by the end of the year. The analyst got his name on the radar of crypto enthusiasts after correctly predicting that the price of BTC would go over $50,000 in the early months of 2021.
His next prediction is even more bold – McGlone now thinks there are several signals pointing towards Bitcoin’s $100,000 march.
“The increasing probability of [exchange-traded] funds in the U.S., on the back of launches in Canada are adding pressure to the trust price, but we see sustaining the upward trajectory as the more likely outcome.”
Other reasons why Bitcoin owners should feel excited about the future include the fact that the cryptocurrency is getting more widely accepted by financial institutions, as well as the fact that BTC has started replacing gold in portfolios.
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