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Quick Summary
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Mark Cuban says Bitcoin would be more useful than gold in a true economic crisis, but markets continue to act differently. Gold has attracted steady demand from central banks and long-term investors as a hedge against currency risk and geopolitical instability.
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As gold trades near record highs, a familiar debate is re-emerging among investors. Which asset holds up better when things go wrong?
Billionaire investor Marc Cuban weighed in last week, arguing that while both assets are often treated as safe havens, Bitcoin has structural advantages that make it more valuable than gold in a true economic crisis.
“People see Bitcoin as a better version of gold, and I agree with that,” Cuban said in a live interview with Wired magazine.
Cuban’s argument focuses on practice. Gold, he noted, derives much of its value from its role as a hedge rather than industrial or consumer demand. In extreme scenarios (such as a collapse of confidence in fiat currencies), the physical nature of gold becomes a liability rather than a strength.
“People aren’t going to walk around with gold bars,” Cuban joked. “What are you going to do with it? Let me cut you a piece?”
Bitcoin (CRYPTO: BTC), instead, is digital and easily divisible. Not to mention that it is easily transferable across borders. Cuban said these characteristics give it an advantage as a store of value and as a functional medium of exchange.
“It’s easier to buy and sell,” he mentioned. “You can fractionate it, you can use it to buy things, and you can transfer it internationally. And so I think it has more value than gold.”
Despite Cuba’s endorsement of Bitcoin, gold continues to attract steady demand, especially from institutions that value stability over upside.
Bitcoin rose more than 130% in 2024, briefly surpassing $100,000 per token. Prices entered 2025 nearly 40% below 2021 highs, reinforcing concerns that crypto has yet to fully prove itself as a long-term store of value over several economic cycles.
Gold, meanwhile, gained roughly 26% over the same period and is trading near record levels in 2026, extending a historic rally despite rising bond yields and a firmer U.S. dollar.
