Mark Cuban Offloads Most Bitcoin Holdings, Cites Failure as Inflation Hedge vs Surging Gold

BTC0.1%
According to Front Office Sports, Mark Cuban said on May 21 that he has sold most of his Bitcoin holdings, expressing disappointment that the asset has not acted as the inflation hedge he expected. Cuban, who previously suggested Bitcoin was "a better version of gold than gold," noted that while gold rallied to around $5,000 and gained over 37% in the last year, Bitcoin fell roughly 29% over the same period and is currently trading near $77,672. "Every time the dollar dropped, Bitcoin should've gone up," Cuban told the outlet. "It's not the hedge I expected it to be."
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments