Why did Mark Cuban sell most of his Bitcoin?

Mark Cuban said he sold about 80% of his Bitcoin because he no longer believes it works as a reliable hedge during geopolitical crises. He expected Bitcoin to act like “digital gold” during the Iran war, but instead saw gold rally sharply while Bitcoin initially fell.

What did Mark Cuban mean when he said Bitcoin “lost the plot”?

Cuban was referring to Bitcoin’s original investment narrative as a store of value and hedge against economic uncertainty. In his view, Bitcoin failed to deliver that protection during the Iran conflict, causing him to question its role in his portfolio.

Did Bitcoin actually underperform gold during the Iran war?

Not over the full period discussed in the article. While Bitcoin sold off during the early stages of the conflict, it later recovered and gained more than 16%, while gold retreated from its peak, meaning Bitcoin ultimately outperformed gold overall.

How much Bitcoin did Mark Cuban sell?

Cuban said he sold roughly 80% of his Bitcoin holdings. He did not disclose the exact value of the sale, but he previously stated that Bitcoin made up around 60% of his cryptocurrency portfolio.

Does Mark Cuban still own any cryptocurrency?

Yes. Cuban said he still owns Ethereum because he believes it has practical utility beyond being a store of value. He also indicated that many smaller cryptocurrencies remain highly speculative in his view.

Is Mark Cuban bearish on Bitcoin now?

Cuban appears significantly less optimistic than he was in previous years, but he has not said Bitcoin is worthless. His criticism is focused on Bitcoin’s performance as a hedge rather than its long-term existence or adoption.

How might Mark Cuban’s comments affect Bitcoin’s price?

High-profile investors can influence market sentiment, especially on social media. However, Bitcoin’s long-term price direction is typically driven more by institutional demand, macroeconomic conditions, regulation, and adoption trends than by any single investor’s opinion.

What is the main bull case for Bitcoin after this news?

Supporters argue that Bitcoin still outperformed gold over the broader conflict period and remains significantly above pre-war levels. They believe short-term volatility does not invalidate Bitcoin’s long-term role as a scarce digital asset.

Image for illustrative purposes only. Not a real photo.

Mark Cuban says Bitcoin lost plot after war

Written by Isaac FrancisPublished May. 30 2026

Billionaire investor Mark Cuban said he sold roughly 80% of his Bitcoin holdings after concluding the cryptocurrency failed to perform as a hedge against geopolitical turmoil during the Iran war.

Cuban told the Portfolio Players podcast that Bitcoin's price decline during the conflict contrasted sharply with gold's rally to $5,000 an ounce, undermining his long-held belief that BTC was a superior store of value.

“I always thought it was a better version of gold than gold, but gold just blew up and went to $5,000, Bitcoin dropped,”

Said Mark Cuban.

Cuban said the conflict exposed what he viewed as a flaw in Bitcoin’s investment case, arguing that the asset failed to deliver the protection he expected during a period of geopolitical uncertainty and pressure on fiat currencies.

“This might get some people upset, I think Bitcoin has lost the plot,”

Said Mark Cuban.

The billionaire's comments have sparked debate because Bitcoin has still risen more than 16% since the conflict began, while gold has retreated from its peak, suggesting the cryptocurrency ultimately outperformed the traditional safe-haven asset despite its initial sell-off.

Cuban previously disclosed that around 60% of his crypto portfolio was allocated to Bitcoin, with the remainder largely split between Ethereum and smaller digital assets, but he now says Ethereum retains value because of its utility while many alternative cryptocurrencies remain speculative investments.

Bitcoin was trading near $77,500 at the time of Cuban's comments, remaining well below its October 2025 record high of $126,080 but significantly above levels seen before the outbreak of the Iran conflict.

At the time of reporting, Bitcoin price was $73,581.57.