Billionaire Mark Cuban said that if you want to get rich, throw a “Hail Mary” with 10% of your investment in Bitcoin, and pretend that you lost it. His advice was simple: invest in BTC and hold on for the long term to reap the benefits. The entrepreneur pumped up the cryptocurrency, which led several retail traders to follow his path.
Well, that was Mark Cuban nine years ago, and now, in 2026, he says that “Bitcoin has lost the plot.” The entrepreneur has taken a complete U-turn on the digital asset and said that “It’s not the hedge that I expected it to be.” If the statements against BTC weren’t enough, he also confirmed that he sold all his Bitcoin holdings.
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Bitcoin: The Rich-List Can Abandon Non-Performing Assets At the Drop of a Hat
The Shark Tank investor has every right to sell his holdings, as that’s his hard-earned money. However, jumping ship during turbulence and talking down upon the asset he once promoted proves that the rich-list are not married to a single form of financial asset. Mark Cuban has nothing to lose, even if he sells it at a loss, but the average person has everything to lose.
Not just Bitcoin, Mark Cuban was also among the biggest pumpers of the NFT market at its peak in 2021-22. He even called it the future, hinting that the financial world will revolve around these new assets. Well, NFTs couldn’t even make it until 2023 and fell into a deep state of coma. The ones who invested in it, including celebrities, saw their portfolios crash by more than 90%.
The lesson to be learnt here from this Bitcoin story is that billionaires can say anything and get away with it. They still have billions of dollars as their cushion, even if they lose millions in bets. The next time you hear the rich-list promoting an asset, think about whether the investment is really worth it, and how it can affect your personal finances. They can take a U-turn and jump ship, but you cannot steer the course during losses.
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