Mark Cuban says he has sold roughly 80% of his Bitcoin holdings after losing confidence in its hedge narrative.
Summary
- Mark Cuban told Front Office Sports he sold most of his Bitcoin after gold surged to $5,000 during the US-Iran conflict while Bitcoin fell.
- Cuban called Bitcoin “not the hedge I expected” and said it “has lost the plot,” while maintaining he still holds Ethereum for its utility.
- Bitcoin defenders note the asset has risen more than 16% since the first signs of the US-Iran conflict, countering Cuban’s narrative on the timeframe.
Billionaire Mark Cuban told Front Office Sports he sold roughly 80% of his Bitcoin after concluding it failed as a hedge against dollar weakness and geopolitical instability.
“I always thought it was a better version of gold than gold. But gold just blew up and went to $5,000. Bitcoin dropped,” he said.
Why Cuban says Bitcoin failed the geopolitical hedge test
Cuban’s portfolio heading into 2026 was roughly 60% Bitcoin, 30% Ethereum and 10% other assets. He once said he had “never sold” his Bitcoin and described scarcity as making it superior to gold. That conviction has now reversed.
“Every time the dollar dropped, Bitcoin should’ve gone up. It’s not the hedge I expected it to be,” Cuban said in the interview. He still holds Ethereum, citing smart contracts and DeFi applications as having clearer utility, and dismissed most other crypto as “garbage.”
Crypto.news has tracked Cuban’s January 2025 statement that he would “rather own Bitcoin than gold if something bad happens to the economy,” a position he has now abandoned.
What Cuban’s Bitcoin exit means for the digital gold narrative
Bitcoin defenders have pushed back on Cuban’s framing. Since the first signs of the US-Iran conflict emerged in late February, Bitcoin has risen more than 16% while gold has fallen over 15%. The hedge performance depends heavily on which timeframe is selected.
Gold currently trades at approximately $4,500 per ounce, having pulled back from its $5,000 peak, while Bitcoin trades near $77,500, down roughly 38% from its October 2025 all-time high of $126,080.
Crypto.news has reported the full arc of Cuban’s crypto journey, from dismissing the asset entirely to building a portfolio heavily weighted toward digital assets. Cuban’s exit does not reflect broad institutional behaviour, with spot Bitcoin ETFs collectively holding more than $100 billion in assets. The Bitcoin (BTC)price page tracks how markets are absorbing both Cuban’s comments and the macro backdrop in real time.
