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Barstool Sports president Dave Portnoy buys Bitcoin…again Barstool Sports president Dave Portnoy buys Bitcoin…again
๐Ÿšจ This article is 4 years old...

Barstool Sports president Dave Portnoy buys Bitcoin…again

Dave Portnoy is now a "proud owner of one Bitcoin," despite swearing to never buy the crypto again.

Barstool Sports president Dave Portnoy buys Bitcoin…again

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Dave Portnoy, president of pop-culture and sports-focused media company Barstool Sports, today revealed that he bought one Bitcoinโ€”after swearing that he will never do it two months ago.

โ€œBreaking: I am the proud owner of 1 Bitcoin,โ€ Portnoy tweeted today.

โ€œI did buy one Bitcoin. When it was at $48,000, itโ€™s all I could afford. Fifty grand and I own one Bitcoin right now. I donโ€™t own any DOGE. I sold DOGE, not at loss. I bought it high, when Dogecoin didnโ€™t go, I sold it and moved on, bought one Bitcoin. Iโ€™m a proud owner of one Bitcoin. Not including all the Bitcoin that I lost in the ether, like, four years ago,โ€ Portnoy said in the video.

Notably, the president of Barstool Sports has a tumultuous love/hate relationship with cryptocurrencies. Last August, Portnoy said that he invested $1 million in Bitcoin (at roughly $11,500 at the time) and Chainlink, speaking quite positively about digital assets.

Just two weeks later, however, he sold all his crypto as prices dipped, losing about $25,000 in the process, by his own admission. Since then, Portnoy has been criticizing Bitcoin and even swore to never buy it again in February.

โ€œBitcoin is the only thing that doesn’t go down, 51 thousand. Bitcoin is fucking 51 thousand, and 11 thousand in August. Jesus Christ,โ€ Portnoy said in his video, adding, โ€œI’m never buying Bitcoin. Never. Never-never. I don’t believe a thing about it. But I do think it’s profitable. I think with enough steam, that it may just continue to go up forever, but I don’t buy the underlying junk behind it.โ€

Now, it looks like the โ€œunderlying junkโ€ won after all.

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