Mark Cuban shares his Bitcoin story (CRYPTO: $BTC) The sale was wrong and they did not dump the assets because of the Iran war.
As previously reported on Cryptopolitan, when gold hit $5,000 and the price fell, Mark released 80 percent of his Bitcoin, claiming that the digital asset was actually insolvent.
Information omitted from previous versions is $BTC It has jumped 16% since President Donald Trump’s war with Iran began.
Mark said he unloaded his coins before this war began, with sale prices ranging from $88,000 to at least $120,000, adding, “I follow the rules of stocks. When my thesis no longer makes sense, I exit.”
Mark Cuban says Bitcoin betrays his core principles
Mark said Bitcoin has been sold for years as a hedge against failed funds, central bank chaos and economic collapse. Under that logic, Bitcoin has no business tracking stock market price movements.
“That’s not what BTC was intended for, at least not IMO,” Mark said. He also brought Michael Saylor into the discussion. Michael’s company, Strategy (NASDAQ: MSTR), has become one of the largest corporate purchasers of Bitcoin on the market.
“And who knows how much Sailor supports that price,” Mark said. “Even the maximum is not that noisy. I’m not saying it’s going to be zero. What I’m saying is that the entire value is built on supply and demand, and there’s going to be some premium on what you pay.”
Seven months ago, Bitcoin reached an all-time high of $126,000. Emotions were positive. Many crypto traders felt that breaking above $1 million was not only possible, but rather preordained by the charts. Bitcoin is currently trading at around $76,000, down about 40% from its all-time high.
However, the long-term outlook is by no means negative. Bitcoin rose from $10,000 in November 2017 to $100,000 in December 2024. Bitcoin has managed to rise over a decade, overcoming crashes, fraud, rate fluctuations, exchange collapses, and thousands of “Bitcoin is dead” articles.
The rush-buying crowd has a history. Bitcoin fell 64% in 2022, but rebounded by 156% in 2023 and 121% in 2024. Those who bought nearly $16,000 during the 2022 crash later saw the price rise to $126,000.
Traders are pricing in wider losses for Bitcoin as Nasdaq receives new SEC approval $BTC Optional index
According to Polymarket, there is a 50% chance that Bitcoin will fall to $55,000 this year, a 42% chance that it will fall to $50,000, and a 32% chance that it will reach $45,000. There is an 8% chance that it will go down to $25,000, but there is also an 8% chance that it will go up to $150,000.
Meanwhile, the U.S. Securities and Exchange Commission today approved Nasdaq (NASDAQ: NDAQ) to list Bitcoin index options.
The deal will give U.S. stock traders another way to bet on Bitcoin without using options tied to spot Bitcoin ETFs, including BlackRock’s (NYSE: BLK) iShares Bitcoin Trust ETF (NASDAQ: IBIT).
Early approval was granted by the Securities and Exchange Commission in an order issued Friday. This means they are cash-settled options or European style, and therefore early exercise is not an issue for in-the-money contracts before expiration.
Please note that this product is not yet tradable as it requires final approval from the Commodity Futures Trading Commission before being listed on Nasdaq.
The underlying index for this product is the CME CF Bitcoin Real Time Index. This index collects price data from cryptocurrency exchanges every 200 milliseconds.
It should be mentioned that CME Group (NASDAQ: CME) has been offering options contracts on Bitcoin futures contracts since 2020. The difference lies in the fact that this takes place within a stock market environment.
