Trump "betrays" Bitcoin! American billionaire Cuban accuses him of trying to profit from supporters through the new currency

Billionaire Mark Cuban has condemned former President Donald Trump’s recent announcement to issue a collectible silver coin, branding it a “betrayal” of Bitcoin. Cuban asserts that Trump’s initiative—linking a $100 coin to 99.99% pure silver—indicates a lack of genuine commitment to Bitcoin and is primarily aimed at profiting from his supporters.

Trump Launches TRUMP Coin as Fundraising Strategy Amid Election Campaign

On Sunday, Trump revealed the official launch of the TRUMP Coin, priced at $100, which he claims is the only coin designed by him. This move is part of his strategy to raise campaign funds against Vice President Kamala Harris in preparation for the November presidential election. Cuban shared a promotional video for the coin, questioning Trump’s true belief in Bitcoin by suggesting that he is treating the silver coin as an investment rather than embracing cryptocurrency.

Historically, silver has been viewed as a store of value and a safe-haven asset, often outperforming cash in times of inflation, currency devaluation, and geopolitical instability. However, some investors, including Warren Buffett, have warned that precious metals like silver pose greater risks and lower returns compared to productive assets that can grow and generate income.

Read more: Trump issues “Trump Coins”: Will pure silver sell for $100, or will it have to rely on physical goods to raise funds?

TRUMP Coin Details: Minted Silver Tokens with Trump's Portrait and White House Image

According to the official website, Realtrumpcoins.com, the coins are minted in the United States and feature Trump’s portrait on one side and an image of the White House on the other. Each coin contains one troy ounce of 99.9% pure silver and is sold at over three times the current silver price. They come in custom pouches with certificates of authenticity.

These tokens are produced and distributed by JBCZ Group under the authority of CIC Digital, which also manages Trump-branded non-fungible tokens (NFTs) for digital trading cards and a line of Trump sneakers. Both CIC entities are wholly owned by Trump’s revocable trust, of which he is the sole beneficiary.

Cuban Criticises TRUMP Coin: Claims Inferior Investment Strategy and Questions Trustworthiness

Despite the disclaimers on the website stating that the coins are intended for personal collection rather than investment, Cuban accused Trump of selling inferior investment products to quickly monetise his follower base. He suggested that Trump’s endorsement of these tokens indicates a lack of trustworthiness as a business partner or investor.

Cuban posed rhetorical questions on Twitter, challenging whether anyone would seek investment advice from someone promoting non-liquid products like Trump’s coins over more liquid assets like Bitcoin or real estate.

In recent weeks, Cuban has openly criticised Trump while supporting his rival Harris in the presidential race. He has labelled the real estate mogul as “unethical” and “dishonest,” warning that Trump’s proposed comprehensive tariffs could harm even the smallest American businesses and predicting he would make a “terrible president.”

Cuban's comments highlight a growing tension between traditional and emerging financial paradigms, as the debate around cryptocurrencies and investment practices continues to evolve.