Billionaire Mark Cuban says that he has bought most of his bitcoin, and he doesn’t mince phrases as to why.
In a latest interview with Entrance Workplace Sports activities, the billionaire investor and partial proprietor of the Dallas Mavericks stated the crypto asset has “misplaced the plot” and singled out bitcoin’s failure to maintain tempo with gold throughout bouts of geopolitical stress over the previous 12 months, durations when many buyers anticipated the asset to show its price as a dependable hedge in opposition to financial turmoil.
In the course of the clip, which didn’t make the ultimate lower of the interview however was posted on X by host Daniel Roberts as additional content, Cuban voiced broader frustration with crypto normally. “I don’t know if it’s lifeless, nevertheless it’s disappointing,” stated Cuban. “Crypto is disappointing as a result of it hasn’t give you an utility for grandma.”
Mark Cuban on crypto: “Bitcoin has misplaced the plot. I at all times thought it was a greater model of gold than gold. Effectively, gold simply blew up, Bitcoin dropped. Not the hedge I anticipated it to be.”
says he bought most of his BTC. as for memecoins? “rubbish.”https://t.co/EgH1rd5GGJ pic.twitter.com/oYRMye3DEg
— Daniel Roberts (@readDanwrite) May 21, 2026
‘Not the hedge I anticipated it to be’
When discussing bitcoin particularly, Cuban laid out his reasoning intimately: “I feel bitcoin has misplaced the plot. After I began shopping for bitcoin, and I’ve bought… most of it, it was as a result of when all of the shit hit the fan with the Iran battle, you realize, bitcoin was at all times the perfect different to fiat foreign money shedding its worth, and I at all times thought it was a greater model of gold than gold. Effectively, gold simply blew up and went to $5,000, bitcoin dropped. And each time the greenback dropped, bitcoin ought to have gone up… and it simply didn’t do this. [It’s] not the hedge I anticipated it to be, and that was simply actually disappointing.”
Regardless of saying he “at all times thought [bitcoin] was a greater model of gold than gold”, Cuban has a protracted historical past of disparaging bitcoin as an asset. In 2019, when bitcoin traded below $10,000, Cuban told CNBC that he would “slightly have bananas than bitcoin” as a result of the previous provided extra sensible use. In 2014, Cuban told USA Today that bitcoin “has no shot” as a long-term digital foreign money, and a deleted tweet from 2013 signifies his adverse opinion of bitcoin relative to the worth of gold isn’t new.
Cuban added that he was much less disillusioned in Ethereum, although he known as the memecoins that dominated crypto headlines a 12 months or two in the past “rubbish.”
Bitcoin’s promise of ‘digital gold’ loses its luster
Cuban is much from the one voice that has been highlighting bitcoin’s underperformance against gold during the past year’s geopolitical flare-ups, and through heightened U.S.-Europe tensions over Greenland, bitcoin fell roughly 10% in a single week whereas gold climbed about 5%.
Nonetheless, bitcoin has held up much better during the Iran War, and it’s attainable that doubts about bitcoin’s “digital gold” narrative are overblown.
That stated, with bitcoin presently promoting below $80,000, the cryptocurrency remains to be a great distance off its all-time excessive of $126,198.07, which it hit final October, based on Yahoo Finance’s historical price data.
