Once one of the most vocal evangelists for cryptocurrency, the American billionaire entrepreneur and former Shark Tank investor Mark Cuban said he has sold most of his Bitcoin holdings as the cryptocurrency has failed to live up to its promise as a hedge against global turmoil.
Earlier, Cuban had described Bitcoin as “better version of gold than gold”, and said the assets have not performed as per expectations.
“When all the shit hit the fan with the Iran war, Bitcoin was always the best alternative to fiat currency losing its value, and I always thought it was a better version of gold than gold. Gold just blew up and went to $5,000. Bitcoin dropped. It’s not the hedge that I expected it to be,” he said.
Back in 2021, Cuban said he spend hours daily studying crypto and even integrated blockchain partnerships into this NBA team. His portfolio reportedly included around 60% Bitcoin, 30% Ethereum, and 10% smaller tokens.
Bitcoin fell to its lowest level in more than five weeks. The fall comes amid the jitters over economic outlook and outflows from US exchange-traded funds weighed on the largest cryptocurrency.
Bitcoin dropped as much as 1.5% to $74,017 in Singapore Thursday. Ether, the second-largest token,
The ongoing Iran War has fuelled the inflation concerns and interest rate worries, deepening the concerns for the crypto investors.
CoinDCX Research Team on the decline in the crypto price said, "The crypto market is experiencing a significant sell off as Bitcoin price dropped below $76,000, dragging the altcoins lower. Meanwhile, Ethereum price continues to sustain above $2,000, BNB at $655, Tron at $0.37, Dogecoin at $0.1 and Hyperliquid at $60.
"In an interesting update, the spot trading volume of to 10 crypts have dropped to $80B per week in 2026, from $178B weekly average in 2025, recording over a 50% drop. On the other hand, Hyperliquid flips Ethereum in 24 hour inflows. Besides, MasterCard and Chainlink are set to enable 3.5B cardholders to purchase crypto onchain."
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