Mark Cuban has declared that he has dumped most of his bitcoin

[legiteum]

Jeez, at least get the guy's picture right. Here's the corrected picture, and a link to his LinkedIn profile:

https://www.linkedin.com/in/mark-cuban-a07a8a2b1/

[X-ray]

His statement kinda expecting Bitcoin to do double bullrun.

He expects Bitcoin to be independent of global political and economic conditions. I wonder if he is not aware that Bitcoin has a circle which include a bear season.

Then he is expecting the impossible. Global political and economic condition will always influence every asset.

Bitcoin is heavily influenced by the tariff when it was first appear out of nowhere, market was very bearish and somehow he expects Bitcoin to be independent from the effect of war.

Moreover, Bitcoin is supposedly on a bearish season right now. The expectation is off the chart here.

[legiteum]

Bitcoin is heavily influenced by the tariff when it was first appear out of nowhere, market was very bearish and somehow he expects Bitcoin to be independent from the effect of war.

Moreover, Bitcoin is supposedly on a bearish season right now. The expectation is off the chart here.

The reason he gave (which is absolutely true, despite the hysterical haters here), is that Bitcoin simply follows the broader market and doesn't provide a hedge against market downturns. There's nothing wrong with that kind of investment per se, but it's not the kind of investment he was looking for so he traded out of it.

He probably bought some bonds instead, or perhaps stocks for businesses he knows more about.

[rodskee]

If Mark Cuban is disappointed because it doesn't pump the way gold did, that's okay but totally his opinion.

Did he forget that Bitcoin is doing 6x from $20k to $120k and suddenly because it doesn't blew the way gold did, it's suddenly become disappointing?

His statement kinda expecting Bitcoin to do double bullrun.

he disappointed his own self for setting up unrealistic expectations. we all are hoping for the best but it’s not fair to throw a tantrum if it doesn’t happen. but big personalities like him tend to spread fud or fomo around depending on what is advantageous to them.

[Z-tight]

Then he is expecting the impossible. Global political and economic condition will always influence every asset.

I do not have a problem with anyone selling their coins, i have said it so many times, it is their keys, so they can decide what they want to do with it and bitcoiners should learn not to make a fuss of it. However, i have a problem with this:

Well, gold just blew up... bitcoin dropped.

If he said this, then he is just making things up in his head because he cannot be more wrong. Gold was trading ~ 5,400 an ounce before The U.S. attacked Iran, then it fell sharply to nearly ~ $4,200 an ounce. Right now it is trading ~ $4,500 an ounce, still well below its pre-war levels. So, what is he talking about. Don't fall for fud and lies guys.

[Woodie]

Talk about manipulative tactics, am pretty sure his doing all this to protect his interests! He might be a gold Investor and only way to pump gold(xau ) is to discredit it's direct competitor so that the liquidity in bitcoin flows out from it & into gold or maybe him being manipulative is to try to convince weak hands to sell and before you know it he will be "privately " buying the discounted coins for dead cheap.. these guys honestly can't be trusted!!

[m2017]

However, it also appears that because he was disappointed that bitcoin did not pump when the war on Iran began, he also is convincing everyone that bitcoin might not be a good investment according to his comparison. The skeptical me thinks he wants you to dump because he has dumped heheheh!

If he considers bitcoin a bad investment, so be it, but why promote it to the public?

So he doesn't feel like a loser selling an asset alone (which will later generate profit)?

We can be very much certain that he is Elmer Fudding and he will certainly buy back what he has sold if there is another dump under $70k.

Greed can sometimes work wonders on investor sentiment.

“When all this shit hit the fan with the Iran war, bitcoin was always the best alternative to fiat currency losing its value and I always thought it was a better version of gold than gold. Well, gold just blew up... bitcoin dropped. And every time the dollar dropped, bitcoin should've gone up ... and it just didn't do that,” Cuban said.

Maybe should have just waited longer? I thought investors of that caliber were capable of waiting years for profits.

[tabas]

That's not Mark. But as for his opinion, he failed himself although the first thing that I am thinking is that he knows what he's doing and maybe this is another way to spread FUD to the internet for him to send the price down and if that's the point, he did well because right now the price is dropping a lot. He's trying to manipulate it with his words and he knows that people look up to his words and financial advices because he's a successful guy. Anyway, someone who's rich nowadays whether they talk good or bad about something, they're like a wise guy.

[Z-tight]

Talk about manipulative tactics, am pretty sure his doing all this to protect his interests!

What he said about gold blowing up and BTC dumping once the Iran v u.s war started is just a flat-out lie, i already put out the figures in my last post to expose his lies. Gold pumped really well in the period leading up to the war, but once the war started, gold took a 'big' dump. However, BTC price was ~ $67k when the war started, but right now it is trading at ~ $75k, so what exactly is Cuban talking about, he couldn't even fact-check his fud before making it public.

[C10H15N]

The war (and I use the term loosely as it's more of a curb stomp) came as no surprise and the markets has pretty much factored it in before it began.   

[Lucius]

Jeez, at least get the guy's picture right. Here's the corrected picture, and a link to his LinkedIn profile:

https://www.linkedin.com/in/mark-cuban-a07a8a2b1/

That guy in the OP is some kind of banker, I think he has connections with the IMF or the World Bank, but this photo you posted doesn't even look like MC (maybe when he was young?) - this is a photo from Wiki.

[bbc.reporter]

OP:

Whether we like it or not, Mark Cuban is an internet legend; many forget that now that he's a multi-millionaire. Anyway!! That's his opinion, very much based on common sense or classic financial observation. Anyway, what I can say for sure is that the guy in the photo has nothing to do with the topic, unless Mark had eaten 1000 hamburgers. I know he's a shark because of the TV series, but that guy in the OP photo isn't him. 

I am not disrespecting his personhood. I am only sharing my argument that this man is being an Elmer Fud. He is declaring that he has dumped his bitcoin and this is a failure because bitcoin did not pump when the Donald's war against Iran has begun? This is a very headshaking statement, I reckon.

[legiteum]

I am not disrespecting his personhood. I am only sharing my argument that this man is being an Elmer Fudd. He is declaring that he has dumped his bitcoin and this is a failure because bitcoin did not pump when the Donald's war against Iran has begun? This is a very headshaking statement, I reckon.

Well, he owns a mansion and a yacht. I'll give you that.

[X-ray]

The reason he gave (which is absolutely true, despite the hysterical haters here), is that Bitcoin simply follows the broader market and doesn't provide a hedge against market downturns. There's nothing wrong with that kind of investment per se, but it's not the kind of investment he was looking for so he traded out of it.

He probably bought some bonds instead, or perhaps stocks for businesses he knows more about.

That makes sense but then again bitcoin has been very obviously consistent on its 4 year bearish bullish cycle and have the track records of volatility with every change of the regulation.

The hedge against inflation was for long term, disregarding current volatility as just temporary and focused more on the long term capital gain.

Though I don't blame him if he can't endure the volatility but he is looking for the wrong asset from the start. He will definitely like gold and bonds more.

[LogitechMouse]

If Mark Cuban really sold most of his Bitcoin, that is his personal decision, not a final judgment on Bitcoin. Big investors change their positions all the time. Some sell because they lost confidence, some because they want less risk, and some because they see better opportunities elsewhere. For me, one billionaire selling does not change Bitcoin’s main idea. It only reminds us that everyone should invest based on their own plan, not celebrity opinions. 

Well, nothing new about this one. Rich investors really do buy and sell assets for their own sake. In this case, he sold it because of disappointment, and I can't blame him because at one point, the stock market and Bitcoin are correlated to each other and they're moving the same way until now where the stock market is going upwards while Bitcoin is going down. Talk about 2 buddies being decoupled with each other.

We have different reasons as to why we sell or buy Bitcoin. Well at one point, Cuban is just like other anti-Bitcoin out there where they said negative things about it, but in the end, they changed their perspective about it and suddenly buying it already. Declaring that they dumped their Bitcoin for me isn't a negative one, but just a way for investors to get attracted to buy it. This declaration by him is an example of publicity. He's lowkey advertised Bitcoin since he said it. I just can't think of a legit reason as to why he believed that the market will pump as soon as the war starts. I mean it must be the opposite of it that happens, right? And that's what happened.

[bbc.reporter]

I am not disrespecting his personhood. I am only sharing my argument that this man is being an Elmer Fudd. He is declaring that he has dumped his bitcoin and this is a failure because bitcoin did not pump when the Donald's war against Iran has begun? This is a very headshaking statement, I reckon.

Well, he owns a mansion and a yacht. I'll give you that.

Agreed! His personhood is very rich! However, he might not also be always correct on making investment decisions. Does everyone remember he was hyping Iron Finance? This was not a very happy ending for the retail investors for this story but he declared that he got out? This is very headshaking heheheh. How can people trust this man.



The billionaire owner of the NBA team Dallas Mavericks, Mark Cuban, invested in a token that crashed from about $64 to near zero Wednesday. Iron Finance called the collapse of its iron titanium token (TITAN) “the world’s first large-scale crypto bank run.” The price of the token is $0.000000029585 at the time of writing.

Responding to a tweet asking whether he “rugged” or “got rugged” on Iron Finance’s token, Cuban wrote: “I got hit like everyone else. Crazy part is I got out, thought they were increasing their TVL [Total Value Locked] enough. Then bam.”

Read in full https://news.bitcoin.com/mark-cuban-iron-finance-token-crash-defi-regulation/

[legiteum]

Well, he owns a mansion and a yacht. I'll give you that.

Agreed! His personhood is very rich!

If you're going to use a meme, know the meme...  Just saying...

https://www.youtube.com/watch?v=B_Js9rYUeH0

[goldkingcoiner]

What a particular person does – in this case, a billionaire like him – really shouldn’t be our concern. That said, I quite like the bloke.

Although I do think what he says reflects a general feeling about how the price has performed in recent years, which has been rather disappointing, to be honest. For my part, I’m still accumulating bit by bit, but not so much for the potential future returns as because having a portion of your wealth that you manage with your private keys – and which you could take with you or transfer to another part of the world without anyone being able to censor you – has many potential advantages.

I would also not be very surprised if he decides to do a 180 and buy all the Bitcoin he sold back at a lower price. Just as I am not surprised that most big investors do this. I just wish they would not trash-talk or put a negative image on Bitcoin in their own selfish hopes of lowering the price by getting everyone else to panic-sell. Elon Musk has been known to do this in the past but I doubt anyone would believe him now. Especially after 120K ATH.

[jcojci]

I am not think seriously if Cuban really sold his Bitcoin but he have his consideration although he said that Bitcoin might not be a good investment according to his comparison. He can says anything to influence people to follow his suggestion but he can't forcing people.

But he really make a wrong decision to invest in altcoin or token or even meme. He better hodl his Bitcoin and not sells than investing in TITAN.

[rdbase]

It seems Mark Cuban wants Bitcoin to correlate with the price of  most of the US Stocks right now, as we all know, when what happened to Iran, it just made most of stocks or entire US stocks market pump too.
For me, this is is a good sign that Bitcoin must be seperate to any geopolitical issue, positive of negative benefits.

These corporate type who invested into bitcoin tend to want what they believed in to keep going up.
Once they see it declining in where they expected it to be after a certain amount of time will just leave it and declare it a failed investment.
Same thing from another millionaire who put alot of their business investments into bitcoin was Kevin O'Leary.
I think he started an exchange but probably had seen it the same way as Cuban and just quit backing bitcoin to a degree.