If you invested $1,000 in Dogecoin when Mark Cuban and the Dallas Mavericks hosted The Crypto Meme, here’s how much you’d have now – Dogecoin (DOGE/USD)

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Entrepreneur and NBA team owner Mark Cuban is one of the most vocal supporters of Dogecoin DOGE/USD. Cuba and Tesla CEO Elon Musk’s tweets are known to drive up the price of Dogecoin as they help validate the cryptocurrency meme.

Here’s a look at how investing in Dogecoin when Cuban made an announcement involving the crypto would have turned out.

What happened: On March 4, 2021, Cuban announced that the National Basketball Associations Dallas Mavericks would accept Dogecoin as payment for tickets and merchandise.

The Dallas Mavericks have been a lifelong cryptocurrency enthusiast, opening up new opportunities for the team to sell tickets and merchandise to its global MFFL fan base, BitPay CEO Stephen said at the time. Peer. BitPay worked with the Mavericks to be able to accept Dogecoin for transactions.

Related Link: How to Buy Dogecoin

One of the explanations Cuba gave for why the Mavericks made the decision to accept Dogecoin was Because we can!

The Mavericks have decided to accept Dogecoin as payment for Mavs tickets and merchandise for a very important and heartbreaking reason, because we can! said Cuban at the time.

Cuban said that sometimes you have to do fun things that could generate a lot of PR for your company or your team.

The Mavericks brought in $122,000 in Dogecoin transactions in its first month and saw several 24-hour records set after announcing acceptance of Dogecoin for commodities.

In August 2021, the Mavericks launched a promotion to further support Dogecoin by offering a free $25 e-gift card to anyone who used Dogecoin for merchandise purchases of $150 or more.

Dogecoin’s early support and promotion by the Mavericks was not lost on Dogecoin co-founder Billy Markus.

If you want to support one of the first big sellers to evangelize DOGE for purchases, as @mcuban says, this is ready for you, Markus tweeted at the time.

Cuban revealed later in 2021 that he personally owned $494 in Dogecoin, and the Mavericks owned everything they raised through merchandise and ticket sales.

If I had to choose between buying a lottery ticker and #Dogecoin, I would buy #Dogecoin, Cuban tweeted in February 2022.

Investing with Cuban, the Mavericks: Sometimes big events in the world of cryptocurrency or Dogecoin can be catalysts that push the price up.

Dogecoin hit a high of $0.05109 on the day the Mavericks were announced in March 2021. A $1,000 investment in Dogecoin at the time could have bought 19,573.30 Dogecoin.

Based on a price of $0.07227 at the time of writing, the same $1,000 investment would be worth $1,414.56 today. This is a return of 41.4% in 22 months.

Dogecoin hit an all-time high of $0.7375 in May 2021, a few months after the Mavericks started backing the cryptocurrency. The $1,000 investment based on the March announcement would have been worth $14,435.31 at its peak in May 2021. This represents a hypothetical return of 1,343.5%.

Dogecoin has traded between $0.04972 and $0.2032 over the past 52 weeks.

Read next:Mark Cuban: Dogecoin was ‘real money for us’ until people lost the vibe

Photo: courtesy of Gage Skidmore on flickr

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