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Mark Cuban Sells Most of His Bitcoin Holdings, Disappointed by Poor Performance of "Digital Gold" Narrative

2026.05.22 08:21:09

May 22nd, billionaire Mark Cuban revealed on the Front Office Sports podcast that he has sold the vast majority of his Bitcoin holdings. The NBA owner turned sour on the cryptocurrency after it failed to act as an effective hedge amid recent geopolitical unrest and U.S. dollar weakness—breaking his long-held core investment thesis for Bitcoin. Cuban originally viewed Bitcoin as “digital gold” superior to physical gold, arguing its fixed supply would protect against fiat currency devaluation. But recent events upended that belief: during the Iran conflict, gold prices surged while Bitcoin fell, and the crypto asset did not rally when the U.S. dollar weakened. For years, Cuban was a vocal, major Bitcoin supporter, holding a significant position that made up roughly 60% of his entire crypto portfolio. Back in 2018, he even made headlines when the Dallas Mavericks started accepting Bitcoin as payment for tickets, and he’s also expressed bullishness on Ethereum in the past. But his consistent stance had always framed Bitcoin as the key asset for hedging against fiat currency devaluation and economic turmoil.
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