Mark Cuban Touts Dogecoin on ‘Ellen’: ‘A Whole Lot Better Than a Lottery Ticket’

Mark Cuban Touts Dogecoin on ‘Ellen’: ‘A Whole Lot Better Than a Lottery Ticket’

Billionaire investor, “Shark Tank” personality and Dallas Mavericks owner Mark Cuban explained the dogecoin phenomenon to millions of viewers of Ellen DeGeneres’ daytime talk show on Tuesday, describing the much-hyped cryptocurrency as a “a whole lot better” of an investment “than a lottery ticket.”

Cuban and DeGeneres – who both pronounce the currency “doja-coin” – also discussed NFTs on the episode, which Cuban described as “just a digital collectible that you can buy, hold, sell like any other collectible.” Notably, DeGeneres tweeted Monday that she is auctioning an NFT to benefit World Central Kitchen.

“Cryptocurrency is just an asset to invest in. Bitcoin is kind of like a digital version of gold. Ethereum is a digital version of a currency,” Cuban told DeGeneres. “And then you got dogecoin, which is just fun, but the weird part about it – it went from being a cryptocurrency joke to now becoming something that’s becoming a digital currency.”

Cuban explained that he had gotten his 11-year-old son, Jake, involved in dogecoin, with the two buying “$30 worth.”

“So the question everyone wants to know: is dogecoin a good investment? And here’s the reason I got Jake into it. It’s not necessarily the best investment you can make, but you can buy it on Robinhood, and signing up and trading on Robinhood is free. So that’s one thing,” Cuban said.

“The second thing is it’s about 26 cents per dogecoin, so if you go and spend five, 10, 15 dollars, that’s a better investment than buying a lottery ticket. And you know what? It could go up,” he continued. “It’s also becoming a digital currency, which is crazy if you think back to its origins.”

He noted that the Mavericks store accepts dogecoin for merchandise, and suggested that DeGeneres do the same for her Ellen Shop.

“But overall, when someone brings up dogecoin to you, and asks you if it’s a good investment, I wouldn’t say it’s the world’s best investment, but it’s a whole lot better than a lottery ticket, and it’s a great way to learn and start understanding cryptocurrencies,” Cuban said.

According to a recent report in The New York Times, data from research firm Nielsen shows that “The Ellen DeGeneres Show” had an average of 1.5 million viewers tune in over the past six months, compared to 2.6 million viewers for the same period in 2020. In September, DeGeneres publicly apologized on the show for allegations of workplace misconduct.

The core audience for “Ellen” is adult women below the age of 54, according to Nielsen.

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