Mark Cuban Says He Sold Most of His Bitcoin
Mark Cuban, billionaire investor and former Dallas Mavericks owner, has sold most of his Bitcoin holdings, expressing disappointment in the asset’s performance. Previously viewing Bitcoin as a superior store of value compared to gold, Cuban noted that while gold surged to record highs, Bitcoin dropped, failing to serve as the expected hedge amid macroeconomic volatility and geopolitical tension. Bitcoin has lost about 29% in the last year and trades around $77,672, down nearly 38% from its all-time high. Meanwhile, gold rose over 37% in the same period, hovering near $4,548. Cuban called meme coins “garbage” and expressed broader frustration with the crypto sector, including NFTs and Ethereum, citing a lack of widely adopted, practical uses, especially for less tech-savvy users. Despite his past enthusiasm for NFTs and support for Dogecoin as a transactional currency, Cuban now finds the current state of crypto largely disappointing.
