Mark Cuban dumped most of his Bitcoin, saying it ‘lost the plot.’ Experts say he panic-sold at the worst possible time Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. “I don’t know if it’s dead, but I’d say it’s disappointing.”…
at’s what Mark Cuban had to say about crypto in a recent interview with Front Office Sports (1). Bitcoin is a major source of Cuban’s disappointment. “This might get some people upset: I think bitcoin has lost the plot,” he said
The former Shark Tank host says he recently sold most of his holdings because they aren’t performing well as an inflation hedge, especially now that the Iran War is causing inflation hikes. Top Picks “I always thought it was a better version of gold than gold. Well, gold just blew up and went to $5,000; bitcoin dropped,” Cuban said. “Every time the dollar dropped, bitcoin should have gone up.” Some bitcoin aficionados, such as Blockstream CEO Adam Back, say Cuban hasn’t given bitcoin a fair shake (2). “I don’t know what @mcuban is trying to say .. doesn’t line up with data unless he sold the bottom,” Back said on X (3) last week.
Does bitcoin make a good inflation hedge? Was Cuban right to sell? Here’s how the math breaks down.