Billionaire investor Mark Cuban says he has sold roughly 80% of his Bitcoin (BTC) holdings after deciding the asset failed as a hedge against economic and geopolitical stress.
Mark Cuban Abandons Bitcoin Hedge Thesis
Cuban told the Front Office Sports podcast that he no longer believes Bitcoin behaves like the safe haven he once expected. He said the cryptocurrency should have climbed each time the dollar weakened, and it did not.
His portfolio heading into 2026 was roughly 60% Bitcoin, 30% Ethereum (ETH) and 10% other assets.
For years, Cuban had described Bitcoin as a superior version of gold and insisted he had never sold a coin.
That conviction has now reversed.
Cuban said gold climbed to $5,000 during the recent US-Iran conflict while Bitcoin fell, a split he called proof the hedge narrative had broken. He still holds Ethereum, pointing to smart contracts and DeFi applications as clearer sources of utility, and he dismissed most other tokens as garbage.
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Why The Cuban Bitcoin Exit Splits Analysts
The timing of Cuban's exit has drawn pushback from Bitcoin supporters who say he picked an unfavorable window.
Since the first signs of the US-Iran conflict emerged in late February, Bitcoin has risen more than 16% while gold has fallen over 15%, according to data cited by several outlets. Analysts note that the hedge verdict depends heavily on which timeframe an investor selects.
Cuban's move also runs against broader institutional behavior.
Spot Bitcoin exchange-traded funds still hold more than $100 billion in assets, suggesting large allocators have not followed him toward the door. Observers say a single billionaire selling carries symbolic weight, given Cuban's long history as a mainstream crypto advocate, but it does not yet signal a wider retreat.
Bitcoin Price Slides Far Below October Peak
Bitcoin currently trades near $77,500, down roughly 38% from the all-time high of $126,080 reached in October 2025. Gold, meanwhile, has pulled back to about $4,500 per ounce after its $5,000 peak.
The retreat caps a difficult stretch for the asset. Bitcoin fell from its October high to the high $70,000s through the spring, a slide that coincided with rising geopolitical tension and softer demand. That decline, more than any single statement, shaped the backdrop for Cuban's decision to step back.
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