Dave Portnoy Said He Was Wrong About Bitcoin

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Dave Portnoy recently congratulated all Bitcoin boomers on the rise of their cherished cryptocurrency. He admitted that he was wrong about his view of Bitcoin and investing in it. The congratulatory message was released shortly after Bitcoin hit a record-breaking value of over $61,000.

The popular internet celebrity had dumped Bitcoin, and the idea of investing in it following a loss claimed to be around $25,000. The loss occurred after Dave allegedly sold the asset following a drop in value. Little did he know that Bitcoin, the unpredictable asset, has been on a series of highs and lows for years, with the highs being shockers!

Reports have it that he panicked and sold his asset when it started to drop in value. In his words, he claimed that he did not trust the crypto market, and he was not planning on giving Bitcoin a second try. He also took on investors in the LINK token, as he called them swindlers, which we think is because the token also went through a trying stage.

Dave had purchased $200,000 worth of Bitcoin from the Winklevoss twins after hosting them at his house when the asset’s value was around $12,000. He also diversified into other digital currencies, such as Chainlink and Orchid.

Reactions To Dave Portnoy’s Statement 

Following Portnoy’s outburst, members of the crypto community have shown displeasure in his reactions. They allegedly called him faint-hearted hence his inability to withstand a little storm in the crypto market. Another Bitcoin trader said that Dave tried to act smart and got what he deserved. Some even claimed that he needed that loss to know that the crypto market is not as predictable as the stocks market.

However, Dave reinforced that he was wrong when Bitcoin resurrected with a massive comeback. He admitted that his investment would have hit above $1 million. At the press conference held, he congratulated all Bitcoin investors. He went on by saying that he messed up by not facing the downside of Bitcoin trading. He also agreed that his opinions about Bitcoin, Bitcoin trading, Chainlink, the LINK marines, and the crypto world were wrong. 

However, the crypto community unanimously believes Dave can still re-invest in the asset, hoping he would learn to be patient during a low and not give up on his investment.