- Mark Cuban blasted Donald Trump for advertising limited-edition silver coins to his followers.
- He said the ex-president clearly wasn't committed to bitcoin and was promoting bad investments.
- The maker of Official Trump Coins said they're not political or for "investment purposes."
Mark Cuban has called out Donald Trump for promoting collectible silver coins, saying it shows he's not all in on bitcoin or above persuading people to make bad investments as long as he profits.
In an X post On Saturday, the tech billionaire shared the Republican presidential candidate's promotional video for Official Trump Coins, in which Trump hailed them as a "true symbol of American greatness."
"I guess he doesn't believe in btc [bitcoin'] quite as much as the Maxis told him to," Cuban wrote, nodding to Trump's public embrace of the most popular cryptocurrency in recent weeks.
"He is selling the silver coins as a collectible that could increase in value …. An investment," the "Shark Tank" star and Dallas Mavericks minority owner said in a later post. "Would a Maxi tell any human on the planet to buy a silver minted coin as an investment over bitcoin ?"
People have turned to silver for centuries as a store of value and a haven asset that fares better than cash against inflation, currency depreciation, political upheaval, and other threats.
However, some investors like Warren Buffett have warned precious metals like silver are riskier and less lucrative bets than productive assets like businesses that can grow and yield income.
Silver tongue
The Trump coins are minted in the US and stamped with the image of the former president on one side and the White House on the other, according to the official website, realtrumpcoins.com.
They contain one Troy ounce of 99.9% fine silver and cost $100 — more than triple the going price for the metal. They're shipped in a custom felt bag and come with a certificate of authenticity.
The coins are manufactured and distributed by JBCZ Group under license from CIC Digital, the same entity that licenses out the rights to make Trump-branded non-fungible tokens that act as digital trading cards. Meanwhile, CIC Ventures offers a Trump sneaker line. Both CIC entities are fully owned by Trump's revocable trust, which counts him as its sole beneficiary.
The website description of the coins says they're "intended as collectible items for individual enjoyment, and not for investment purposes" and "the coins are not political and have nothing to do with any political campaign."
Despite those disclaimers, Cuban accused Trump — who's navigating several costly legal cases — of selling an inferior investment to his fans to make a quick buck. He also suggested Trump's endorsement of the coins means he can't be trusted as a business partner or investor.
"Would you consider a person pushing this illiquid product , rather than btc, eth, real estate or other liquid assets, someone you can trust for investment advice ?" Cuban asked on X.
He continued: "Would you tell ANYONE you know to get business or investment advice from a person selling these coins?"
Cuban has repeatedly criticized Trump in recent weeks while championing Vice President Kamala Harris, Trump's rival in this year's presidential race.
He's slammed the real-estate mogul as "unethical" and "dishonest," warned his plan to enact sweeping tariffs would sting even the smallest American businesses, and warned he would be a "lousy president."
JBCZ Group, the Trump campaign, and the Trump Organization didn't immediately respond to requests for comment from Business Insider.