Bitcoin vs Gold: Billionaire Mark Cuban Slams BTC Safe Haven Narrative as Price Faces Crash to $71K

Billionaire Mark Cuban has revived the Bitcoin vs gold debate, saying BTC has “lost the plot” and it can no longer be used as a safe haven. Cuban’s bearish remarks come after Bitcoin (BTC) price dropped by 29% in the 12 months leading up to May 22, 2026, while gold went up from $3,295 to $4,522 in the same period. Meanwhile, the XAU/USDT ratio has dropped by 28% between March 2, 2026, and May 22, 2026, showing that gold is weakening, but can this help Bitcoin price avoid a drop to $71,000?

Mark Cuban Dismisses Bitcoin as a Safe Haven as Gold Outperforms

Cuban has changed his tune towards Bitcoin, saying he is “disappointed” with how poorly it has performed as a safe haven. He said that he has sold most of it because he initially thought it would not react to geopolitical events the same way that fiat does, but this has not happened because it is down by 29% in 12 months.

The billionaire also said that gold is better than Bitcoin because when gold went up to $5,000 in January 2026, BTC had dropped from $123,000 in October 2025 to $87,000.

“It’s not the hedge that I expected it to be, and that was really disappointing. I’d say I am more disappointed in Bitcoin, not as disappointed in Ethereum.” Cuban said.

CoinGape had earlier reported that Cuban fueled the Bitcoin vs gold debate in 2024, saying that Trump would make Bitcoin a global currency. But the underwhelming performance in the last 12 months, from $111,000 to $77,512 at press time, appears to have pushed him towards gold.

But Cuban’s remarks come as XAU/BTC shows that after gold peaked at $5,000 on January 29, it is moving down, and Bitcoin is moving up to close the gap.

The XAU/BTC ratio has dropped by 29% since March 2, from 0.0826 to 0.0584, showing that Bitcoin has performed better than gold for the last 12 weeks.

A recent Bitcoin price analysis by CoinGape also noted that BTC is performing better than gold because of institutions buying and gold succumbing to the pressure of the war between the US, Iran, and Israel.

Bitcoin Price Forecast as Bear Flag Warns of Crash to $71,000

The 29% rise in the XAU/BTC ratio shows the Bitcoin vs gold debate might favor BTC once again if gold prices drop and Bitcoin rises, but a bear flag warns that a drop to $71,000 is more likely to happen.

Bitcoin price went from $82,000 on May 14 to $76,000 on May 18. The 7.35% drop in four days created the pole of a bear flag. BTC has tried to move up from May 18 to May 22, going from $76,000 to $78,000. But the gains are in a rising channel that forms the flag part of the bearish pattern.

Bitcoin needs to remain above this rising channel to avoid falling by 7.35% to $71,000. It needs to remain above the support of $77,000 to avoid this drop that would revive the Bitcoin vs gold debate in favor of XAU.

The CMF reading of 0.10 suggests that the long-term Bitcoin price prediction is still bullish, even if the short-term setup shows that a drop to $71,000 might occur. The AO bars that are green and on the positive side also show that bulls still have a good grip.

Bitcoin will avoid the drop to $71,000 if it moves above the upper line of the rising channel and the resistance at $78,000. That will push it to the psychological support level of $80,000.