Barstool Sports founder Dave Portnoy is taking his hat off to all Bitcoin investors as the leading cryptocurrency prints a new all-time high of $61,683.
In a video posted on Twitter, Portnoy reveals to his 2.4 million followers that he messed up for selling his Bitcoin (BTC) stash at a loss.
“I want to congratulate all my Bitcoin people out there. [$61,000], parabolic guy with the shades and the diamond eyes and all that. ‘Oh, he’s a paper hand.’ When you’re wrong, you’re wrong. I *** paper-handed sold it.”
In 2020, Portnoy invested over $1.25 million in Bitcoin and Chainlink (LINK) after having a quick meeting with the Winklevoss twins. He immediately cashed out and booked a loss of $20,000. At the time, the leading cryptocurrency was trading below $12,000.
Portnoy adds that Bitcoin’s volatility was too much for him to handle.
“I *** can’t take Bitcoin, the ups and downs. I wish I *** had. I took my money and put it in what I think I know and what I can control and what I have a hand [on]. I don’t know Bitcoin… So I said, ‘Hey, I’m going to bet on me.’ I *** up, alright. I took Emeka Okafor. Sorry. I bet on myself. It didn’t pan [out].”
Portnoy’s recent praise for Bitcoin HODLers arrives just a month after he expressed his disappointment in the flagship crypto asset and pledged to stay away from it.
“Bitcoin is the only thing that doesn’t go down. Bitcoin’s at *** $51,000. It was $11,000 in August. Jesus Christ.
I’m never buying Bitcoin. Never. Never-never. I don’t believe a thing about it, but I do think it’s profitable. I think there’s enough steam that it may just continue to go up forever. But I don’t buy the underlying like junk behind it.”Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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