Billionaire investor Mark Cuban sold most of his BTC after it underperformed gold during geopolitical turmoil and dollar weakness.
Mark Cuban sold the majority of his Bitcoin holdings, citing disappointment in its failure to act as a hedge against a weakening dollar and geopolitical risks. The move follows BTC’s underperformance relative to gold during the recent Iran conflict, contradicting his long-held view of Bitcoin as “digital gold.”
BTC traded at $77k while gold surged to $5,000, defying expectations that Bitcoin would rally alongside dollar weakness. Cuban had previously advocated for Bitcoin as a superior alternative to gold but reversed course after the divergence. His portfolio was heavily weighted toward crypto before the sale.
The decision highlights growing skepticism among some institutional investors about Bitcoin’s role as a safe-haven asset. Cuban’s exit comes as crypto majors remain volatile, with BTC struggling to maintain momentum despite recent ETF inflows of $70M.