Bitcoin · Decrypt
'Every Time I Buy It, It Tanks': Dave Portnoy Says He's Losing Millions as Bitcoin Falls
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Barstool Sports founder and media personality Dave Portnoy knows he’s not an expert crypto trader—but that’s never stopped him from trying over and over again for several years now.
Key facts
- This week, Portnoy told Fox Business host Stuart Varney that he’s down millions on Bitcoin, the top crypto asset by market cap, as it has fallen more than 50% from its October all-time high
- The token surged to a market cap above $210 million and earned a listing on centralized exchange Kraken
- Portnoy’s crypto history extends beyond Bitcoin, though, previously championing controversial meme coins like SafeMoon (SFM) while also declaring himself a proud member of the Link Marines
- Barstool Sports founder and media personality Dave Portnoy knows he’s not an expert crypto trader—but that’s never stopped him from trying over and over again for several years now
Summary
Barstool Sports founder Dave Portnoy said he's down millions of dollars on Bitcoin as the top coin falls. Portnoy admitted he's never gotten anything "more wrong" than the leading cryptocurrency. In 2021 he famously "paperhanded," or panic sold, some of his Bitcoin after a price drop. This week, Portnoy told Fox Business host Stuart Varney that he’s down millions on Bitcoin, the top crypto asset by market cap, as it has fallen more than 50% from its October all-time high of $126,080 to a recent price of $62,162.