Dave Portnoy, founder of Barstools, stated that he would continue to hold bitcoin even if the price fell to zero. He claimed that he had bought it at close to $100,000 and now suffered millions of dollars.
Purchase point approaching height
In an interview with FOX Business this week, Portnoy said that he had sold bitcoin many times in the past at the wrong time. According to him, the price would continue after each sale and the market would fall after each purchase, so the decision would no longer operate frequently.
He said his own purchase price was about $100,000. The CoinDesk data show that bitcoin broke 126,000 United States dollars in October last year and has since fallen and now fluctuates around $63,000. At this price, his book losses have become more apparent.
It's a sort of resonance.
Portnoy also stated that Bitcoin was one of the assets with the most miscalculation, but he believed that if sold now, it would then miss the next round of the increase and chose to retain it.
This expression reflects the common problem in highly volatile markets, where investors have difficulty in accurately managing the time of sale. Many traders leave before they rise, or they catch up before they turn back, resulting in repeated losses.
I've been talking about the memes.
Also in his statement at Consenus 2025, Portnoy argued that the currency boom was ultimately unsustainable. This statement, however, is not directly related to its current claim that Bitcoin hold.