Dave Portnoy Realizes That His View On Bitcoin Was Wrong

Founder of Barstool Sports, Dave Portnoy, has finally given up to Bitcoin after seeing the record-breaking bullish trend that is currently being experienced by the market.

In a recent press conference, Dave congratulated the people who supported Bitcoin. Dave quoted in the press conference, “I want to congratulate all of the Bitcoin people, I f***ed up”. Back on the 13th of August, Dave had purchased almost $200k worth of Bitcoin in the time when it was selling for around $12k. Dave was hopeful that his investment into crypto would flourish, but that wasn’t the case. Portnoy even invested in some other altcoins such as Chainlink.

Not being impressed by the minimal returns from his investment, Dave sold all of his coins in the market at a substantial loss stating that he will still be watching and analyzing where the coin market is headed. Dave didn’t like the way the investment turned out and had his doubts.

His doubts cleared when he saw Bitcoin reach a staggering $61,000 in value, increasing day by day as the trend moves forward. If Portnoy didn’t sell the investment early, he might have been standing with a million dollars worth of coins in his back pocket.

Dave might still have a chance

However, the Bitcoin community still stands with Dave Portnoy and wants Dave to make a move towards Bitcoin yet again. Samson Mow, Blockstream’s CSO, has stated in a recent tweet that if Dave invests in Bitcoin again right now, even at this high price, he could benefit a ton from it in the future, “You could look like a genius in 10 years with Bitcoin” Samson said. With the huge growth of Bitcoin, it is definitely possible that cryptocurrency will be at its peak in the future. Digital currency is looking like the future of payment transactions, outpacing standard trading currency.

Dave said that he only invests in the places he is familiar with. This turned out to stab him back, and he said that he could have had more luck on gains with Bitcoin rather than stocks. February was the month that hit Dave the most, where he lost around $700,000 during the GameStop stocks fiasco. It is still yet to be determined what move will Dave play now.