Billionaire entrepreneur and former cryptocurrency advocate Mark Cuban announced that he has sold most of his Bitcoin holdings. According to CoinDesk, he recently appeared on a podcast and stated, "I concluded that cryptocurrencies do not properly serve as a hedge against fiat currency devaluation and geopolitical instability. As I lost trust, I reduced my holdings. When everything went awry with the Iran war, Bitcoin was the best alternative, superior to gold, for hedging against fiat currency devaluation. However, when gold prices rose, Bitcoin fell, and even when the dollar's value dropped, Bitcoin also fell. The expected hedge effect was absent, and that was disappointing. I was more disappointed with Bitcoin than with the rest of the junk, including Ethereum (ETH)."
