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Billionaire investor Mark Cuban revealed on Thursday that he’s sold most of his Bitcoin ) as it didn’t turn out to be the “hedge” he expected it to be.
How Bitcoin Disappointed Cuban
Appearing on the Portfolio Players podcast, Cuban said that Bitcoin has “lost the plot” and been “disappointing.”
The “Shark Tank” celebrity said he always thought of Bitcoin as a “better version” of gold and the “best alternative” to fiat currency losing its value.
“Well, gold just blew up and went to $5,000, and Bitcoin dropped. Every time the dollar dropped, Bitcoin should’ve gone up,” Cuban said.
He said Bitcoin didn't perform as the hedge he had expected, and that he's sold off “most” of his holdings.
Has BTC Really Lost The Plot?
Although Bitcoin underperformed gold over the past year, it has outpaced the yellow metal since the Iran war started in late February.
Cuban's comments from the strong endorsement he gave a little more than a year ago.
In January 2025, he pitched Bitcoin as a superior alternative to gold in times of economic crises, highlighting several advantages it held over the yellow metal, such as being less prone to theft and easier to exchange for goods and services.
The Grievance With Crypto
Cuban also expressed his dissatisfaction with cryptocurrency in general, arguing it hasn’t come up with an “application for grandma.” He also referred to memecoins as “garbage.”
In the 2024 election, he was highly critical of Gary Gensler's regulatory approach at the SEC and worked closely with Kamala Harris to .
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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