{"id":41571,"date":"2021-04-28T17:07:32","date_gmt":"2021-04-28T14:07:32","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=41571"},"modified":"2025-08-30T19:21:56","modified_gmt":"2025-08-30T16:21:56","slug":"mark-cuban-says-robinhood-policy-hampers-dogecoins-growth","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/mark-cuban-says-robinhood-policy-hampers-dogecoins-growth\/","title":{"rendered":"Mark Cuban says Robinhood policy hampers Dogecoin&#8217;s growth"},"content":{"rendered":"<p>Restrictions on withdrawals in the Robinhood app for cryptocurrency trading are the biggest obstacle to Dogecoin&#8217;s price growth, according to Dallas Mavericks owner, billionaire Mark Cuban.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-lang=\\\"en\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Because Doge is the one coin that people actually use for transactions. We take many others via <a href=\\\"https:\/\/twitter.com\/BitPay?ref_src=twsrc%5Etfw\\\">@BitPay<\/a>. But people spend Dogecoin, and this means more businesses will start taking it. The greatest inhibitor to it&#8217;s growth is that you can&#8217;t spend the Doge you buy on Robinhood <a href=\\\"https:\/\/t.co\/TrhT9pYkcb\\\">https:\/\/t.co\/TrhT9pYkcb<\/a><\/p>\n<p>\u2014 Mark Cuban (@mcuban) <a href=\\\"https:\/\/twitter.com\/mcuban\/status\/1386775439763337216?ref_src=twsrc%5Etfw\\\">April 26, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>In his view, the meme cryptocurrency is the only coin that people actually use for transactions.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8216;We get many others through BitPay. But people spend Dogecoin, and this means more businesses will start accepting it. The biggest obstacle to its growth is that you can&#8217;t spend the tokens you bought on Robinhood,&#8217; Cuban wrote.<\/p>\n<\/blockquote>\n<p>In March, the Dallas Mavericks <a href=\"https:\/\/u1f987.com\/en\/news\/dallas-mavericks-mark-cubans-nba-club-first-to-begin-accepting-dogecoin\">started accepting Dogecoin<\/a> as payment for tickets, services and merchandise. According to BitPay, the payments processor that facilitated the solution, the number of transactions <a href=\\\"https:\/\/twitter.com\/mcuban\/status\/1386766964614328321\\\" target=\\\"_blank\\\" rel=\\\"noreferrer noopener\\\">should reach 6,000<\/a> in April.<\/p>\n<p>Co-founder and CEO of Robinhood Vlad Tenev <a href=\\\"https:\/\/twitter.com\/vladtenev\/status\/1386905434959663105\\\" target=\\\"_blank\\\" rel=\\\"noreferrer noopener\\\">responded<\/a> to the billionaire&#8217;s criticism:<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;We are working on deposits and withdrawals! Not just for Dogecoin, but for all coins on Robinhood Crypto&#8221;.<\/p>\n<\/blockquote>\n<p>Despite limited features, the company&#8217;s platform user base <a href=\"https:\/\/u1f987.com\/en\/news\/robinhoods-crypto-platform-user-base-grew-by-a-factor-of-5-6-in-q1\">is growing rapidly<\/a>, rising in the first three months of 2021 from 1.7 million to 9.5 million.<\/p>\n<p>In March, Robinhood announced <a href=\"https:\/\/u1f987.com\/en\/news\/robinhood-to-add-cryptocurrency-wallet-to-its-service\">the addition of a crypto wallet<\/a> to the service.<\/p>\n<p>Earlier, Cuban <a href=\"https:\/\/u1f987.com\/en\/news\/mark-cuban-buys-dogecoin-for-his-11-year-old-son-for-educational-purposes\">bought Dogecoin for his 11-year-old son<\/a> for educational purposes.<\/p>\n<p>According to the billionaire, in his <a href=\"https:\/\/u1f987.com\/en\/news\/mark-cuban-reveals-his-cryptocurrency-portfolio\">investment portfolio<\/a> of digital assets, 60% is Bitcoin, 30% Ethereum, and only 10% are other coins.<\/p>\n<p>Earlier, Cuban <a href=\"https:\/\/u1f987.com\/en\/news\/mark-cuban-compares-bitcoin-to-amazon-during-the-dot-com-bubble\">compared Bitcoin to Amazon during the dot-com bubble<\/a>.<\/p>\n<p>Follow ForkLog news on <a href=\\\"https:\/\/vk.com\/forklogcom\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Restrictions on withdrawals in the Robinhood app for cryptocurrency trading are the biggest obstacle to Dogecoin&#8217;s price growth, according to Dallas Mavericks owner and billionaire Mark Cuban.<\/p>\n","protected":false},"author":1,"featured_media":41572,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[99,1551,1138,1234],"class_list":["post-41571","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-dogecoin","tag-mark-cuban","tag-opinions","tag-robinhood"],"aioseo_notices":[],"amp_enabled":true,"views":"51","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/41571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=41571"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/41571\/revisions"}],"predecessor-version":[{"id":41573,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/41571\/revisions\/41573"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/41572"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=41571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=41571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=41571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}