Adam Back Disputes Mark Cuban's Bitcoin Critique

Blockstream CEO Adam Back has challenged Mark Cuban's assertion that Bitcoin (BTC) has "lost the plot," arguing that the billionaire's critique contradicts recent market data. According to BeInCrypto, Cuban sold most of his BTC holdings, criticizing Bitcoin's failure to act as an inflation and geopolitical hedge. Back countered that since Middle East tensions escalated, BTC has risen 25-30% from a low of approximately $60,000, while the S&P 500 and Dow Jones gained 11% and 5%, respectively, and gold fell 14%. Back attributes Bitcoin's earlier drop to cyclicality and unrelated geopolitical factors.