The billionaire built his name backing bold bets. This time, he’s walking away from one.
Mark Cuban has sold most of his Bitcoin. The investor and Shark Tank personality confirmed it this week, and he didn’t hold back on why.
What He Actually Said
On the Portfolio Players podcast Thursday, Cuban said Bitcoin has “lost the plot” – his words. His original bet was straightforward: BTC would behave like a smarter version of gold, something that holds its ground when the dollar starts slipping. That didn’t happen.
“Gold just blew up and went to $5,000, and Bitcoin dropped,” Cuban said. “Every time the dollar dropped, Bitcoin should’ve gone up.”
He also called memecoins “garbage,” which is a striking shift for someone who used to be one of Dogecoin’s biggest cheerleaders. The Dallas Mavericks, where Cuban holds a minority stake, even took DOGE as payment for tickets and merch at one point.
So What Do the Numbers Actually Look Like?
Over the past year, Bitcoin is down close to 30%. Gold, over the same stretch, is up more than 37%. That’s the gap Cuban is pointing at.
Zoom in on the period since the Iran war started in late February, though, and the picture shifts. Bitcoin has climbed around 17.8%, while gold has pulled back about 14.3%. Right now, Bitcoin is sitting at roughly $77,608, and gold is around $4,523.
So the story depends heavily on which window you’re looking through.
Why This Matters for Traders
When someone like Cuban, a macro-minded, high-profile investor, publicly exits a position, it moves sentiment. His comments land at a moment when Bitcoin’s “store of value” reputation is already under pressure, while gold keeps pulling in safe-haven money.
The real question is whether Bitcoin can recover that credibility the next time the dollar takes a hit. That test hasn’t come yet. Until it does, Cuban just became a loud voice on the gold side of this ongoing argument.
