Billionaire investor cites BTC’s failure to act as a fiat inflation hedge as gold surges to $5,000 while Bitcoin declines.
Billionaire investor Mark Cuban has sold most of his Bitcoin holdings, citing disappointment in its performance as an inflation hedge. Cuban said BTC failed to rise when the dollar weakened, contrary to his expectations of it rivaling gold as a store of value.
Gold recently surged to $5,000, while Bitcoin declined, leading Cuban to question its role in volatile macroeconomic conditions. He previously viewed BTC as a superior alternative to gold but now believes it has “lost the plot.”
Cuban also dismissed meme coins as “garbage,” marking a shift from earlier considerations of launching his own. Bitcoin currently trades near $77,672, down from its peak.