Barstool Sports founder Dave Portnoy said this week that he will keep his bitcoin down to zero if necessary, while admitting his struggle with timing the market.
“I’m holding. I’m going to hold this thing down to zero,” Portnoy told FOX Business’ Stuart Varney on Varney & Co. “I know if I sell it, it will go nuclear again. I’d rather go down with the ship this time.”
Portnoy said he bought $100,000 worth of bitcoin and is now sitting on millions in losses. BTC peaked above $126,000 last October and has since halved to $63,000, CoinDesk data shows.
“Yeah, I have regrets. I bought the thing for $100,000. There’s nothing I’ve been more wrong about than Bitcoin. Every time I sell it, it goes nuclear. Every time I buy it, it tanks,” Portnoy noted. His exact BTC holdings are not publicly known.
