Mark Cuban Abandons Bitcoin, Cites Failure as Hedge

Entrepreneur and investor Mark Cuban has made a significant shift in his stance on cryptocurrencies, selling most of his Bitcoin holdings while retaining his position in Ethereum.

The move comes after the Iran crisis, during which gold prices rose significantly while Bitcoin fell. This development contradicted Cuban's long-held belief that Bitcoin was a superior hedge to gold.

Cuban had previously recommended Bitcoin as a safe-haven asset and even partnered with crypto broker Voyager Digital in 2021. However, the company filed for bankruptcy in 2022, and Cuban lost capital in the collapse of the Iron Finance token TITAN.

Despite this, he continued to advocate for Bitcoin until May 2026, when he sold most of his holdings. In an interview, Cuban stated that Bitcoin failed to behave as expected during the Iran crisis, with gold prices rising while Bitcoin fell.