Mark Cuban said he has sold most of his Bitcoin, arguing that the asset failed to behave as the hedge he expected during a period of geopolitical stress and dollar weakness. Speaking on Portfolio Players by Front Office Sports, released on May 21, 2026, the billionaire investor said it had “lost the plot” after underperforming gold in the conditions he believed should have favored it.
Why Mark Cuban Sold Most Of His Bitcoin
“This might get some people upset,” Cuban said. “I think Bitcoin has lost the plot.”
Cuban said his original thesis for buying BTC was tied to its role as an alternative to fiat currency debasement. He said he saw BTC as “a better version of gold than gold,” particularly in moments when confidence in traditional currencies came under pressure. But he said that view changed after it failed to rally during a period he described as marked by the “Iran war” and broader stress in fiat markets.
“When all the shit hit the fan with the Iran war,” Cuban said, “Bitcoin was always the best alternative to fiat currency losing its value.”
According to Cuban, that expectation was not met. He contrasted BTCs performance with gold, which he said “blew up” and moved to $5,000, while Bitcoin fell. For Cuban, the issue was not simply that BTC traded lower, but that it failed in the specific macro environment in which he believed it should have shown strength.
“Every time the dollar dropped, Bitcoin should have gone up,” Cuban said, arguing that a weaker dollar should have made the asset more attractive globally because Bitcoin is priced in dollars. “And it just didn’t do that.”
NEW ‼️ – BILLIONAIRE MARK CUBAN:
I SOLD MOST OF MY BITCOIN. IT’S LOST THE PLOT. pic.twitter.com/9NlILDsKwu
— Neil Jacobs (@NeilJacobs) May 21, 2026
The comments cut directly into one of BTC’s most persistent investment narratives: its role as a hedge against fiat weakness and monetary instability. Cuban’s criticism is not framed around network security, adoption, or long-term scarcity. It is focused on market behavior. In his view, Bitcoin failed to respond like a macro hedge when the setup appeared to demand it.
Asked whether Bitcoin was “not such a hedge,” Cuban agreed. “No, it’s not the hedge that I expected it to be,” he said. “And that was really disappointing.”
Cuban’s remarks also draw a distinction between BTC and ETH. While he said he was “more disappointed in Bitcoin,” he added that he was “not as disappointed in Ethereum.” He did not expand on the Ethereum comparison in the excerpt, but the contrast suggests his disappointment is concentrated on BTC’s failure to deliver against its hedge narrative rather than a blanket rejection of the entire crypto sector.
His comments were harsher toward other parts of the market. Referring to “the token stuff” and meme coins, Cuban dismissed them as “garbage,” placing speculative tokens outside the part of the market he still appears willing to treat seriously.
At press time, BTC traded at $77,257.
Featured image created with DALL.E, chart from TradingView.com
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