“Every time the dollar dropped, Bitcoin should’ve gone up,” he added. “It’s not the hedge I expected it to be.”
Mark Cuban on crypto: "Bitcoin has lost the plot. I always thought it was a better version of gold than gold. Well, gold just blew up, Bitcoin dropped. Not the hedge I expected it to be."
Bitcoin, which is trading around $77,672 on Thursday, has fallen around 29% in the last year of trading and is now 38.4% off its October all-time high mark of $126,080. Meanwhile, gold is up more than 37% in the last year of trading, recently changing hands around $4,548.
“I don’t know if it’s dead, but I’d say it's disappointing,” he said of NFTs, adding that the crypto industry as a whole has been a letdown because it hasn’t found “an application for grandma.”
