Mark Cuban, one of crypto’s most recognizable advocates, has sold most of his Bitcoin holdings. His reason is straightforward and uncomfortable for maximalists: Bitcoin didn’t do what it was supposed to do.
Mark Cuban on crypto: "Bitcoin has lost the plot. I always thought it was a better version of gold than gold. Well, gold just blew up, Bitcoin dropped. Not the hedge I expected it to be."
says he sold most of his BTC. as for memecoins? "garbage."https://t.co/EgH1rd5GGJ pic.twitter.com/oYRMye3DEg
— Daniel Roberts (@readDanwrite) May 21, 2026
During a period when gold surged past $4,500 amid the Iran conflict, Bitcoin went the other direction. It fell from a peak of $126K down to $77K, a roughly 39% drawdown at a moment when the “digital gold” thesis needed to prove itself most. Gold did the hedging. Bitcoin did the opposite.
