Mark Cuban says he’s sold roughly 80% of his Bitcoin, bluntly declaring the asset a failed hedge.
In a recent Front Office Sports interview, the billionaire—who once described Bitcoin as “a better version of gold” and famously said he had “never sold” his BTC—said he lost faith in the crypto’s ability to protect against dollar weakness and geopolitical shocks. “Every time the dollar dropped, Bitcoin should’ve gone up. It’s not the hedge I expected it to be,” Cuban said. He added, citing recent price action, “I always thought it was a better version of gold than gold. But gold just blew up and went to $5,000. Bitcoin dropped.”
Context: Cuban’s portfolio heading into 2026 was roughly 60% Bitcoin, 30% Ethereum and 10% other assets. He now says he still holds Ethereum—because of its smart contract and DeFi utility—but called most other crypto “garbage.”
A reversal of view: Crypto.news documented Cuban’s January 2025 stance that he would “rather own Bitcoin than gold if something bad happens to the economy.” His new position undercuts that earlier conviction and raises questions about Bitcoin’s narrative as a crisis hedge.
Pushback and price context: Defenders of Bitcoin note that hedge performance is timeframe-dependent. Since the first signs of the US–Iran conflict in late February, Bitcoin has risen more than 16% while gold has fallen over 15%—an example that runs counter to Cuban’s critique. As of today, gold trades near $4,500 per ounce after retreating from a $5,000 peak; Bitcoin is around $77,500, roughly 38% below its October 2025 all-time high of $126,080.
Bigger picture: Cuban’s selling does not mirror broad institutional flows—spot Bitcoin ETFs collectively hold more than $100 billion in assets—yet his change of heart is notable given his earlier public advocacy. Markets remain sensitive to both his comments and the wider macro backdrop, and traders are watching how prices absorb the news.
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