Mark Cuban Says He Sold Most Bitcoin, Calls It Failed Hedge

Billionaire investor Mark Cuban has sold most of his Bitcoin holdings, calling the cryptocurrency a failed hedge against fiat inflation in a recent interview.

He once viewed Bitcoin as “a better version of gold,” but recent price moves altered that view. Bitcoin traded near $77,672, down about 29% from a year earlier and roughly 38% below its October high of $126,080.

Gold rose over the same period and traded around $4,548 per ounce after earlier spikes above $5,000 and $5,500. Cuban said he expected Bitcoin to rise when the dollar fell, but that correlation did not hold.

“I always thought it was a better version of gold than gold,” Cuban said. “But gold just blew up and went to $5,000, and Bitcoin dropped. Every time the dollar dropped, Bitcoin should’ve gone up. It’s not the hedge I expected it to be.”

He sold “most” of his Bitcoin after watching dollar and commodity moves.

Cuban has been active in crypto for years. He supported Dogecoin and in 2021 his team accepted it for merchandise. He promoted non-fungible tokens and made some of his NFT wallets public.

He called meme coins and other tokens “garbage” and stepped away from plans to launch a meme token he had considered last year, saying transparency and fairness would need to change and that he did not want to join “a game of musical chairs.”

Two years earlier he had suggested macro conditions might line up for Bitcoin price acceleration; his recent comments reverse that view. His remarks contribute to ongoing investor discussion about whether Bitcoin and other digital assets function as stores of value.