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Mark Cuban sells most Bitcoin, says it failed as a hedge during Iran war and dollar volatility.

Market News
29 May 2026
Crypto news
View Source
Bearish
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Billionaire Mark Cuban sold about 80% of his Bitcoin holdings, stating that Bitcoin "has lost the plot" and did not act as the hedge against war and inflation he expected during the Iran conflict. He observed gold prices spiking to $5,000 while Bitcoin initially dropped, contradicting his view of Bitcoin as a superior store of value compared to gold. However, data shows Bitcoin has gained over 16% since the conflict began, outperforming gold, challenging Cuban's assessment. His move highlights ongoing debate about Bitcoin's role as a safe haven amid geopolitical turmoil and market volatility.

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