Mark Cuban Sells Most Of His Bitcoin, Calls It Failed Hedge

Mark Cuban has sold most of his Bitcoin holdings and says the asset failed as a hedge against fiat currency weakness and geopolitical turmoil. In an interview with Front Office Sports, he said Bitcoin "has lost the plot" and contrasted its price behavior with gold, which rose to $5,000 while Bitcoin dropped. Bitcoin traded near $77,500 on Thursday, 38% below its October all-time high of $126,080, though the article notes that Bitcoin has risen more than 16% since late February while gold fell over 15%. Cuban expressed less disappointment in Ethereum and called meme coins "garbage."