Barstool Founder Portnoy Says He’ll Keep Holding Bitcoin After Buying Near $100,000
Uk Jin
Summary
- Dave Portnoy said he bought Bitcoin near $100,000 and is sitting on steep losses, but he does not plan to sell this time.
- Portnoy said he will keep holding Bitcoin even if it falls to $0, adding that this time he is going down with the ship.
- Portnoy said no asset has been harder for him to time than Bitcoin, which surges when he sells and plunges when he buys, leaving him with paper losses of several million dollars.
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Barstool Sports founder Dave Portnoy said he is sitting on steep losses after buying Bitcoin near $100,000, but this time he does not plan to sell.
Portnoy recently told Fox Business that Bitcoin tends to surge after he sells it, CoinDesk reported on July 5. He said he would keep holding the token even if it fell to $0. “This time, I’m going down with the ship,” he said.
He said he bought Bitcoin at $100,000 and is now sitting on paper losses of several million dollars. No asset has been harder for him to time than Bitcoin, he added. It jumps when he sells and drops when he buys.
Bitcoin climbed to a record high above $126,000 in October last year and has since fallen to about $62,000.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.