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Dallas Mavericks owner Mark Cuban said on Wednesday that Dogecoin\u2019s<\/strong> DOGE\/USD<\/span> inflation does not diminish it but rather establishes its utility as a digital currency.<\/p>\n What Happened: <\/strong>Cuban was responding to a tweet<\/a> from the cryptocurrency publication CoinDesk that pointed out that he did not mention risk factors associated with DOGE such as its \u201cinfinite supply\u201d during his appearance on \u201cThe Ellen Show.\u201d<\/a><\/p>\n See Also: <\/em>How to Buy Dogecoin (DOGE)<\/em><\/a><\/p>\n \u201cAny asset that has inflation by definition is ‘infinite’ [but] that doesn\u2019t diminish it.\u201d<\/p>\n The \u201cShark Tank\u201d fame investor pointed to the increasing supply of DOGE and said \u201cit changes the utility from store of value to potentially a digital currency. It\u2019s the fact that they create [5 billion a year] that keeps the per coin price low, which makes it more accessible.”<\/p>\n Why It Matters:<\/strong> In comparison with other cryptocurrencies like Bitcoin<\/strong><\/a> BTC\/USD<\/span>, and Ethereum<\/strong> ETH\/USD<\/span>, which have steep valuations, there is more likelihood of people using DOGE for making purchases, as per Cuban.<\/p>\n BTC traded 0.66% higher at $54,197.89 at press time, while ETH traded 2.24% higher at $2,581.36. DOGE traded 4.17% lower at $0.26.<\/p>\n Dogecoin co-creator Billy Markus said last week that BTC and ETH too were inflationary<\/a>. He had said separately earlier \u201cbuying and selling\u201d were what mattered<\/a>. The price of DOGE was \u201cascribed to it by people,\u201d as per Markus.<\/p>\n See Also: <\/em>Dogecoin Co-Creator Says Meme Crypto Has Been ‘One Of The Most Secure Coins’ For Years<\/em><\/a><\/p>\n Tesla<\/strong>\u00a0CEO Elon Musk said in February that DOGE was \u201cinflationary\u201d but not \u201cmeaningfully\u201d so, and that actually gives it an advantage over BTC.<\/a><\/p>\n Musk had called for the transaction speed of DOGE to be a \u201cfew orders of magnitude faster.\u201d<\/p>\n Read Next: <\/em>Ellen Too Late On NFT Scene? ‘Woman With Stick Cat’ Underwhelms Despite Dogecoin Appearance On Show<\/em><\/a><\/p>\n Photo by Gage Skidmore on Flickr<\/a><\/em><\/p>\n This story was originally published on April 28, 2021.<\/a><\/em><\/p>\n<\/div>\n