Mark Cuban: Has Sold Most of His Bitcoin Because It Failed to Serve as a Hedge

Foresight News reported that billionaire entrepreneur and former NBA Dallas Mavericks owner Mark Cuban stated on the Front Office Sports podcast that he has sold most of his Bitcoin holdings, as he believes Bitcoin has failed to effectively hedge against risks caused by a weaker US dollar and geopolitical turmoil, especially during the recent Iran conflict. “When the Iran war triggered this chaos, Bitcoin was always regarded as the best alternative to fiat currency devaluation, and I always thought it was superior to gold. However, while gold prices soared, Bitcoin dropped. And every time the US dollar depreciates, Bitcoin should have risen, but it hasn’t.”