Morning Minute: Mark Cuban Sells His Bitcoin
Mark Cuban sold most of his Bitcoin holdings after losing faith in its ability to hedge against a weakening dollar and geopolitical instability, noting that gold outperformed Bitcoin during the recent Iran conflict. Cuban, who once favored Bitcoin over gold, said Bitcoin’s inability to rise when the dollar dropped was a dealbreaker, and expressed broader disappointment in crypto’s lack of mainstream applications and the underperformance of NFTs. Increasingly, long-term crypto holders appear to be capitulating, with the trend expected to continue in the near term. Separately, startup AmericanFortress has proposed a multi-layer quantum defense system designed to protect vulnerable Bitcoin addresses—including Satoshi Nakamoto’s dormant 1.1 million coins—from future quantum computer attacks. Their approach involves a soft fork to create a quantum-resistant lock around at-risk coins, avoiding the need for owners to move funds or prove control. The proposal is still under peer review and has not been formally submitted as a Bitcoin Improvement Proposal (BIP). Alternative solutions, such as timestamping ownership proofs for future unlocking, are also being explored.
