Cuba · Bitcoin · Iran · Ethereum · Bitcoin Magazine
Mark Cuban Sells Most of His Bitcoin, Calls It a Faltered Hedge
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Billionaire investor Mark Cuban says he has sold most of his Bitcoin, arguing it has failed to function as a reliable hedge against fiat weakness and geopolitical risk.
Key facts
- Bitcoin traded near $77,500 on Thursday, down roughly 30% over the past year and 38% below its all-time high of $126,080 set in October
- In 2021, he held a portfolio split roughly 60% Bitcoin, 30% Ethereum, and 10% in other assets
- Since the first signs of U.S.-Iran conflict emerged in late February, Bitcoin has risen more than 16% while gold has fallen over 15%
- Cuban made the remarks during an interview with Front Office Sports, where he said Bitcoin “has lost the plot
Summary
Billionaire investor Mark Cuban has parted with most of his Bitcoin holdings, saying the asset failed to deliver on its core promise as a hedge against fiat currency weakness and geopolitical turmoil. Cuban made the remarks during an interview with Front Office Sports, where he said Bitcoin “has lost the plot.” The Shark Tank personality and former Dallas Mavericks owner had long positioned Bitcoin as a superior alternative to gold, citing its fixed supply and decentralized structure. “I always thought it was a better version of gold than gold,” Cuban said. The billionaire pointed to price behavior during the U.S.-Iran conflict as the moment his confidence broke.