The NBA Dallas Mavericks owner, Mark Cuban, has called “Robinhood’s withdrawal policy “the greatest inhibitor” to Dogecoin’s growth.
The billionaire tweeted recently that businesses will start embracing Dogecoin because many people use it for transactions. According to Cuban, since people can’t spend DOGE on Robinhood, this could be the “greatest indicator to Dogecoin’s growth.”
Cuban has always supported and defended Dogecoin on many occasions. He had earlier announced that his basketball team would allow fans to purchase its tickets and merchandise using Dogecoin.
Robinhood CEO Responds to Mark Cuban
However, Robinhood’s CEO, Vlad Tenev, responded swiftly to Cuban’s criticism. Tenev tweeted that the company was “working on deposits and withdrawals for Dogecoin and other cryptocurrencies.”
Dogecoin, which started as a fun cryptocurrency, has rallied more than 19,000% in just one year. Tesla CEO Elon Musk had earlier joked that the meme-inspired cryptocurrency is his favorite cryptocurrency.
Musk’s tweet on Wednesday had partly caused the coin to rally by more than 20% in less than 15 minutes. Dogecoin rose above $0.3 following his tweet.
However, the coin has maintained its stance above the $0.3 psychology level. Dogecoin is currently trading around $0.3053 after sliding from an intraday high of $0.3267.