Mark Cuban Sells Most of His Bitcoin Holdings, Citing Disappointment

• Mark Cuban says he has sold most of his Bitcoin holdings because it was not the hedge he expected.
• The price of Bitcoin has been affected by geopolitical tensions, raising fears of a potential fall.
• Deribit options worth $6.25B set to expire May 29 in a major crypto liquidity event.

American businessman Mark Cuban said he has sold most of his Bitcoin holdings, stating in an interview with Front Office Sports that he was disappointed in the pioneer asset. He also claimed that Bitcoin has lost its original purpose.

Since the start of 2026, Bitcoin has underperformed as macro and market pressures have converged. The geopolitical tensions have further supercharged the volatility. As of May 22nd, Bitcoin is trading at 38% below its all-time high of $126,198, reached on October 7, 2025.

Mark Cuban’s Bitcoin Sell-off

In 2026, panic prevailed in the crypto market. Bitcoin dipped below $70K during Feb 2026 and is currently teetering around the $77k level. At the time of writing, the price was $76,728, down 3.77% for the week before and 30.43% for the past 12 months. On the other hand, the price of precious metals surged and reached a new all-time high.

The price of gold surged to the $4,500–$5,400 per ounce range, and silver surged above $100 per ounce. This contradictory behavior of crypto assets and precious metals has led Mark Cuban to state, “gold surged while $BTC failed to act as the hedge he expected.”

Mark Cuban was also initially skeptical of Bitcoin and has even called it a “bubble”. Later, in October 2017, he began investing in BTC and ETH. He also advised investors to put a small portion of their money into Bitcoin or Ethereum if they were willing to take risks.

But for him, Bitcoin’s current trajectory was disappointing, as it failed to prove itself a safe asset in uncertainty. Amid ongoing geopolitical tensions between the US and Iran, Bitcoin’s price fell below $80K, and recovery has stalled. From his perspective, when the dollar weakened, Bitcoin didn’t show gains, and it hasn’t been the hedge he had expected it to be. 

Though he sold most of his Bitcoin after the disappointment, he also said that he was not disappointed in Ethereum.

Is Raising Oil Prices A Big Threat to Bitcoin?

The recent tensions surrounding the Strait of Hormuz have significantly influenced oil prices. On Feb 28, oil prices rose to $120 per barrel over the weekend, and crude oil surged 30% in a single session. Since the traditional market was closed, the entire market’s panic was reflected in the crypto market. Bitcoin price fell from $74,000 to the $65,000–$66,000 range, and ETH dropped to $2,000 in the following hours of the same week.

As of Friday, May 22nd, the price of oil per barrel is $96. When oil prices rise, the fear of inflation also rises. This creates a cascading effect, as the Federal Reserve cannot cut rates amid inflation fears, and when rates are high, risk assets like Bitcoin start to bleed.

Bitcoin Options Expiry

Another massive liquidity event is awaiting the crypto industry on May 29. A total of 80,535 contracts worth $6.25 billion is set to settle on Deribit. The Max Pain price for these contracts is $75,000. However, the market remains divided, with aggressive call buyers continuing to place bets on a move toward $82,000, setting up a sharp bull-versus-bear showdown heading into expiry.

Overall crypto market sentiment in 2026 has turned negative. The rising bond yields, geopolitical tensions, and macroeconomic pressures have caused Bitcoin to stumble. The recent comments from Mark Cuban reflect these sentiments.

Related: Bitcoin Price Holds $75K as Options Traders Hedge Downside