Mark Cuban Says Bitcoin Failed as a Hedge | CoinDesk Daily

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4.7 • 698 Ratings

🗓️ 22 May 2026

⏱️ 1 minutes

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Summary

Mark Cuban sold most of his bitcoin. Billionaire Mark Cuban sold most of his bitcoin after the asset failed to hold up during the Iran conflict. The longtime crypto advocate had argued for years that bitcoin was "a better version of gold than gold" — but during this latest geopolitical shock, gold rallied and bitcoin dropped. CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily." - This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.

Transcript

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0:00.0	Mark Cuban quits Bitcoin and Trump media is down nearly half a billion dollars on its Bitcoin bet.
0:10.3	Mark Cuban says he sold most of his Bitcoin after losing confidence in the assets role as a hedge.
0:15.8	In a podcast appearance, Cuban pointed to Bitcoin's behavior during the recent Iran conflict. Gold just blew up,
0:22.3	he said. Bitcoin dropped. And every time the dollar dropped, Bitcoin should have gone up. It just
0:27.5	didn't do that. This is a notable shift from 2021 when Cuban said his crypto portfolio was 60% Bitcoin
0:34.1	and that he'd never sold it. Trump media just transferred another 2,650 Bitcoin worth roughly $205 million to
0:41.7	crypto.com.
0:42.6	That brings the company's unrealized loss on its Bitcoin position to around $455 million.
0:48.8	The move comes just after Trump Media withdrew its spot Bitcoin ETF application.
0:53.1	The company also reported a $406 million first quarter net loss on just $871,000 in revenue.
1:00.3	And Intercontinental Exchange and OKX are teaming up to bring perpetual oil futures to OKX's 120 million retail users.
1:08.5	The new contracts will use ICE as Brent Crude and West Texas
1:11.4	intermediate benchmarks. This is the first time a regulated Tradfai exchange has put its
1:16.0	data behind a crypto-native per product. Get more updates at coindex.com.

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