Cuban said gold outperformed Bitcoin during recent market uncertainty, with gold rising above $5,000 while Bitcoin declined. Over the past six months, gold gained more than 11%, while Bitcoin fell around 17% from its highs. Despite reducing his Bitcoin exposure, Cuban said he still holds Ethereum because he sees stronger long-term utility in smart contracts and decentralized finance applications.
Mark Cuban Dumps Most of His Bitcoin
Mark Cuban revealed that he sold roughly 80% of his Bitcoin holdings after losing confidence in the cryptocurrency’s long-standing “digital gold” narrative. Speaking to Front Office Sports, the billionaire investor said he no longer believes Bitcoin behaves like the safe-haven asset many supporters claim it to be during periods of economic uncertainty, dollar weakness, or geopolitical instability.
Cuban explained that he originally saw Bitcoin as a superior version of gold because of its scarcity and decentralized nature. However, recent market behavior changed his perspective.
According to him, gold surged aggressively during periods of global tension while Bitcoin moved in the opposite direction. For him, this weakened the argument that BTC serves as a reliable hedge against macroeconomic risk. “I always thought it was a better version of gold than gold. But gold just blew up and went to $5,000. Bitcoin dropped,” Cuban said.
His comments are a major shift in sentiment considering that Cuban previously described Bitcoin as preferable to gold during economic crises and repeatedly stated that he never sold his holdings.
Entering 2026, his portfolio reportedly consisted of approximately 60% Bitcoin, 30% Ethereum, and 10% other assets. While he dramatically reduced his BTC exposure, he still has his Ethereum holdings because he believes smart contracts and decentralized finance applications provide clearer long-term utility.
Over the past six months, the performance divergence between gold and Bitcoin has become one of the crypto sector’s biggest talking points. Gold prices climbed by more than 11% over six months and reached a peak close to the $5,000 level. Even after pulling back slightly, gold still trades around $4,500.
Gold’s price over the past 6 months (Source: CoinCodex)
Bitcoin, on the other hand, experienced a lot more volatility. BTC climbed toward record highs earlier in the year and reached an all-time high above $126,000 in October of 2025 before entering a prolonged correction phase.
Over the past six months, Bitcoin fell roughly 17%, and traded close to $79,500 at press time. The decline fueled criticism from investors who expected Bitcoin to outperform during periods of weakening fiat confidence and geopolitical instability.
BTC’s price action over the past 6 months (Source: CoinCodex)
While some people still see BTC as an emerging store of value capable of competing with gold over time, others view it as a high-risk speculative asset that has yet to fully mature into a reliable macro hedge.
