Mark Cuban sold roughly 80% of his Bitcoin holdings, citing its failure as a hedge during the US-Iran conflict while gold surged past $5,000 per ounce.

Outspoken billionaire Mark Cuban is disappointed with Bitcoin's performance, and said he's parted ways with most of the BTC in his portfolio.

The billionaire investor said he sold most of his bitcoin after concluding the cryptocurrency failed to act as a hedge during recent geopolitical turmoil and dollar weakness.