Mark Cuban, the well-known billionaire investor, recently sold off most of his Bitcoin – about 80% of it. He explained that he did so because Bitcoin didn’t perform as expected during recent global conflicts and uncertainty; he didn’t see it acting as a secure investment during those times.
But experienced figures in the crypto world are questioning Mark Cuban’s reasoning, suggesting he may have sold his cryptocurrency holdings in a moment of panic, and at a particularly unfavorable time based on market trends.
A macro asset in a micro window
Mark Cuban suddenly stopped publicly supporting Bitcoin because its price didn’t react positively during the recent international conflicts.
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Traditional safe-haven assets like gold surged to $5,000, Bitcoin experienced a temporary dip.
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This brief dip in performance was all it took for Cuban to sell his Bitcoin. He said he was disappointed with the cryptocurrency, believing it had strayed from its original purpose.
Market analysts quickly criticized Mark Cuban’s reasoning, explaining that he was evaluating a long-term investment using a very short timeframe.
Bringing the receipts
Blockstream CEO and Cypherpunk legend Adam Back took to X to shut down Cuban’s bearish narrative.
According to Back, the numbers simply do not support Cuban’s frustration.
Bitcoin has surged 25-30% from its recent local bottom of roughly $60,000.
During the same economic recovery, Bitcoin has significantly exceeded the performance of typical stock markets. While the S&P 500 has increased by 11% and the Dow Jones Industrial Average by 5%, Bitcoin has seen much larger gains.
The story Cuban built around gold investments has fallen apart, as the price of gold has dropped 14% from its peak.
Back said he’s confused by Mark Cuban’s recent comments, stating they don’t make sense based on available data unless Cuban sold his assets at a low point.
Cuban is not unbiased, so his criticism has to be taken with a pinch of salt.
For a long time, the previous owner of the Dallas Mavericks was a very outspoken critic of Bitcoin from the traditional financial world.
Mark Cuban famously said in 2019 that he’d prefer to have bananas over Bitcoin, believing bananas are more useful.
Shortly after this, Cuban became fascinated by the technology of decentralized finance (DeFi).
He went even further, embracing the riskier side of the market and publicly supporting Dogecoin (DOGE).
Now, the pendulum has swung in the other direction.
Following the market crash, Mark Cuban strongly criticized speculative investments and called memecoins “garbage,” even though he had previously shown support for Dogecoin.
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2026-05-24 14:55