‘I’m Not Saying It Goes To Zero’: Mark Cuban Debunks Perceived Misconceptions Around His Bitcoin Position

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Billionaire investor Mark Cuban says he does not believe Bitcoin is going “to zero” despite disclosing that he has sold all his coins.

“I’m not saying it goes to zero,” Cuban said on May 22 on X. “I’m saying [its] whole value is built on supply and demand, with a little premium for payments. That’s not why I bought it.”

Cuban’s post came in response to criticism from cryptocurrency podcaster Kyle Chassé. Chassé said Cuban sold his Bitcoin because it did not act as a hedge at the start of the U.S.-Israel war on Iran. Chassé added that Bitcoin was up 16% since the conflict began, slamming Cuban for being impatient.

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However, Cuban rejected Chassé’s framing. He said he sold his Bitcoin before the war, adding that his lowest sale price was $88,000 and that he started selling at around $120,000, near the asset’s record price of $126,000 in October.

“I applied the same logic I do to stocks,” Cuban said. “If my thesis doesn’t hold. Sell.”

Cuban said he invested in Bitcoin as a hedge against currency devaluation and global economic uncertainty. He said Bitcoin should be making new highs under current market conditions, according to the thesis.

However, Cuban said Bitcoin is currently trading as a risk-on asset. It was most recently trading near $76,000, down roughly 40% from its price record.

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Cuban also suggested that Bitcoin is being propped by Strategy Inc. (NASDAQ:MSTR), saying, “who knows how much of the price is [Strategy Chair Michael] Saylor propping it up.”

Strategy has been among the largest buyers of Bitcoin, scooping up nearly 170,000 BTC so far this year, worth nearly $13 billion at current rates. Comparatively, Bitcoin ETFs have seen only $2.6 billion in net inflows year-to-date.

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